LAS VEGAS - Oracle has launched a new RFID for Replenishment feature within its Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) suite, aimed at optimizing inventory management for healthcare providers. The announcement, made at Oracle CloudWorld on September 11, 2024, highlights a collaboration with Avery Dennison (NYSE:AVY), Terso Solutions, and Zebra Technologies to integrate RFID technology into Oracle Fusion Cloud Inventory Management. This integration is designed to help healthcare organizations maintain the necessary stock levels, reduce manual data entry errors, and improve overall patient care experiences.
The RFID for Replenishment solution enables automatic tracking of medical supplies, updates stock balances, and triggers restocking processes when needed. This ensures that essential items are available where and when they are required, thus streamlining operations and allowing healthcare professionals to devote more time to patient care. The technology supports a variety of medical supplies, including high-value non-implantable items, climate-sensitive goods stored in RFID-enabled cabinets, and lower-value supplies in RFID-enabled Periodic Automatic Replenishment (PAR) bins.
Chris Leone, Oracle's executive vice president of applications development, emphasized the need for automated stock replenishment to prevent delays and shortages that can arise from manual inventory management. The RFID solution is expected to enhance productivity, provide real-time inventory visibility, and minimize human error in inventory management.
Representatives from Avery Dennison, Terso Solutions, and Zebra Technologies also expressed their views on the importance of speed and accuracy in healthcare supply chain management and how their collaboration with Oracle can help address these challenges.
Oracle Cloud SCM, which is continually updated with new features, assists organizations in adapting to changes in demand, supply, and market conditions by creating a resilient supply network.
This news is based on a press release statement and reflects Oracle's ongoing efforts to innovate and provide solutions that address specific industry needs, in this case, improving the efficiency and effectiveness of healthcare inventory management.
In other recent news, Oracle Corporation (NYSE:ORCL) has introduced new AI tools and cloud services, and has been recognized by financial analysts for its robust performance. Oracle's recent updates to its Unity Customer Data Platform (CDP) and Fusion Cloud Customer Experience (CX) are designed to enable organizations to better identify growth opportunities and streamline B2B transactions. The firm's expanded cloud infrastructure services, including Oracle Database@AWS, Oracle Database@Azure, Oracle Database@Google Cloud, and OCI Supercluster, aim to meet the growing demand for AI and cloud services globally.
Oracle's financial performance has also been strong, with total revenue increasing by 8% to $13.3 billion and cloud product revenue rising by 21% to $5.6 billion, surpassing analysts' expectations. Argus, a financial analysis firm, has maintained a Buy rating on Oracle, upgrading its price target from $159.00 to $176.00. Analysts from Mizuho Securities, Stifel, and KeyBanc Capital Markets have also expressed confidence in Oracle's growth potential.
Uber Technologies Inc . (NYSE:UBER) has also been leveraging Oracle Cloud Infrastructure (OCI) for over a million hourly trips, highlighting Oracle's significant strides in integrating artificial intelligence into its cloud services. These are among the recent developments at Oracle Corporation.
InvestingPro Insights
Oracle's recent announcement of the RFID for Replenishment feature within its Oracle Fusion Cloud Supply Chain & Manufacturing suite is a testament to the company's commitment to innovation and meeting industry-specific needs. The integration of this technology is poised to streamline inventory management for healthcare providers, enhancing productivity and patient care.
InvestingPro Tips indicate that Oracle has been a prominent player in the Software industry, with a significant return over the last week. This performance could be indicative of the market's positive reception to Oracle's latest solutions and their potential impact on the company's growth. Additionally, Oracle has raised its dividend for 11 consecutive years, a sign of the company's financial stability and commitment to shareholder value.
From the real-time data provided by InvestingPro, Oracle boasts a market capitalization of $429.61 billion, reflecting its substantial presence in the market. The company's P/E ratio stands at 40.17, which is relatively high, suggesting that investors are expecting higher earnings in the future. The revenue growth over the last twelve months has been 5.6%, showing a steady increase in the company's sales.
For readers interested in a deeper dive into Oracle's financials and performance metrics, there are 20 additional InvestingPro Tips available on the platform, providing valuable insights for making informed investment decisions.
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