B2B software infrastructure company Verano recently launched its Supply Chain Event Management (SCEM) solution to extend its reach into one of the software industry's fastest-growing markets. Verano's closed-loop solution allows enterprises to provide real-time visibility into cross-enterprise business processes, internal applications and production-related processes. The company's supply chain event management solution includes Verano's Click2Biz process automation workflow modeler with real-time data acquisition, monitoring and statistical reporting functions.
SCEM includes a broad class of applications supporting the following five functions as business processes: Monitor, Notify, Simulate, Control and Measure. True e-business management in the enterprise not only involves the ability to automate and integrate business processes with production processes, but also the capability to monitor, measure and report on the performance of key metrics associated with those processes, noted Sonia Bhanot, CEO of Verano. Verano's eBusiness platform provides us with a key differentiator in this market a comprehensive set of capabilities to create solutions that incorporate all five facets of supply chain event management utilizing process management and automation, workflow, data extraction, data translation, and a combination of communications protocols and EAI adapters inherent in our own technology.
According to the AMR Research Report on Supply Chain Management, November 2000, Business process workflow plays an important role in enabling exception management within SCEM and in allowing the five functional areas (monitor, notify, simulate, control, and measurement) to play together. The notification or alerting host system plays a role much like a traffic cop directing messages to various decision makers and systems to initiate action.
The report goes on to say, Supply Chain Execution (SCE) at 38 percent CAGR [compounded annual growth rate] will push this application type to $8.3B by 2004. SCEM applications are addressing the considerable real-time event and exception management issues, like providing inventory visibility into product availability and order/shipment status, across a corporate supply chain. Conservatively, SCEM could represent 13 percent of this SCE figure, or $1.1B by 2004, an impressive 88 percent CAGR.
