J OliveNetworks announced on July 5 that it will introduce a cloud-based supply chain planning (SCP) solution to effectively respond to rapidly changing demand changes and regulations.
CJ OliveNetworks has signed a partnership with Kinaxis Korea as its first partner in South Korea and has decided to cooperate with each other by establishing and operating real-time responsive SCP solutions.
Kinaxis, a global SCP solution company, has SCP customers in various industries such as consumer goods, pharmaceuticals, chemicals, electronics, automobiles, and energy.
Its cloud SCP solution, RapidResponse, connects data, processes, and people into a single integrated environment, providing information about the entire supply chain.
Companies need to introduce advanced solutions to quickly respond to changes in user demand or regulations such as diversifying customer demands, global production, and supply regulations.
CJ OliveNetworks is planning to respond to rapidly changing demands through strategic partnerships with global experts in South Korea’s SCP market, which is expected to grow by about 15% every year after 2022.
The solution provided by CJ OliveNetworks with Kinaxis complements the limitations of conventional SCPs through concurrent planning and simulation. Using the SaaS-based main system, real-time, interactive information delivery at all stages is possible to help balance supply and demand.
Through this, the SCP period, which took about 10-18 days on average, can be shortened to 4-8 days, and statistical demand prediction can be made through data algorithms in the system.
CJ OliveNetworks plans to expand its business to foreign businesses centered on groups, food and beverage, cosmetics, pharmaceutical and bio industries, focusing on consultants specialized in Kinaxis’s rapid response.
“With growing uncertainties in the global market, such as increasing checks and regulations between countries and the spread of COVID-19, companies will be able to respond quickly to supply chain changes and make decisions by utilizing this solution, which can accurately predict and control market demand,” said Nam Byung-soo, head of CJ OliveNetworks DS Business Division.
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