LiveSource, a leading multi-enterprise supply chain business network for complex manufacturers, has released the first of three phases of its new product, LiveSource Analytics. This initial phase focuses on queries and alerts to enable manufacturers greater visibility into their supplier’s health, performance and ability to deliver.
Given the ever-increasing focus on quality, compliance, efficiencies and costs, manufacturers require enhanced visibility and collaboration within their complex supply chains. With constant changes in regulations and last-minute engineering updates buried in emails, spreadsheets and disconnected systems, it’s difficult to know where the next surprise is coming from. LiveSource gives manufacturers greater visibility across their entire supplier network so they can plan effectively and quickly respond to change, avoiding supply chain disruption.
LiveSource Analytics utilizes data lake technology, standardizing all data from both LiveSource and third-party systems into a non-relational database. This creates a powerful decision-making tool, with extremely fast data query. Users apply these queries against a library of widgets to present the data visually, grouping appropriate widgets together to create dashboards of key indicators. Additionally, LiveSource Analytics drills down to the sourced document of the analysis, a feature not available with comparable business intelligence tools.
“Leveraging the data lake, LiveSource Analytics collects all of the data from various disconnected systems and standardizes that data to drive more accurate analytics,” said Bo Hagler, CEO of LiveSource. “Ultimately, we are delivering more credible analysis to drive better supplier management decisions.”
Moving forward, LiveSource Analytics will also be key to leveraging the enormous amounts of data captured by IOT devices in manufacturing, such as monitoring tool usage and performance.
Current LiveSource customers will be upgraded to the first phase of LiveSource Analytics at no additional cost.
Since 2000, LiveSource has helped some of the world’s largest complex manufacturers know what’s coming. It’s the only solution that is built for direct spend, built to connect all the moving parts, and built to adapt quickly to change. Born in the cloud, the application platform specializes in strategic sourcing, quality, tooling and supplier performance management. That’s why industry leaders across the world like Dana, Plastic Omnium, Vibracoustic, Safran, and Goodman Manufacturing turn to LiveSource to avoid hidden risks and stay competitive in a world of shrinking margins. To know what’s coming, visit www.livesource.com.