SAN JOSE, Calif., Nov. 13, 2019 /PRNewswire/ -- OpsVeda, the leading provider of Operational Intelligence SaaS solutions, today announced that the United States Patent and Trademark Office has issued the company another patent, covering a self-learning method for recording and predicting supply chain measures and actions on a continuous basis. The invention (US Patent No. 10467550) builds on OpsVeda's previously patented Process-Agnostic-Data-Store (PADS), enabling time-corrected supply chain measures to be uniformly stored and processed irrespective of the underlying process from which the data is generated.
OpsVeda's approach consists of a Process-Agnostic-Measure-Store (PAMS) supported by an Experience Knowledge Database (EKDB). The PADS system continuously feeds PAMS with business events from supply chain activities, events and things. PAMS' unique architecture makes it suitable for rapidly processing business measurements for any time horizon. This lays the foundation for self-acting supply chains by allowing machine learning algorithms to access and learn from data as well as detect trends, patterns and anomalous situations.
"Robotic Decision Automation will bring much needed simplicity in managing global supply chains. Given today's complex supply chains, managers need to factor in a lot of variables when they make decisions. Automating such decisions is the key to realizing opportunities and eliminating revenue and operating margin leakage in everyday business execution," said Sanjiv Gupta, CEO of OpsVeda. He added, "With our event driven approach, decision automation is much easier because it is easy to correlate the final business outcomes, the decisions, and the various parameters that potentially drove those decisions. This is possible because process agnostic data and measure stores effortlessly replicate the Digital Twin of business operations."
"Whether it is a manager looking for historical trends of business measures she is tracking or a machine trying to learn from human managers, PAMS provides an efficient way to store, retrieve and process today's massive supply chain data sets," said Dinesh Somani, VP – Technology and a co-inventor. "The flexibility of the underlying process agnostic architecture supports data from a diverse array of processes, automatically correlating them. This in turn allows consistent methods to access the data and estimate measures that presage actions. Machine learned action is a natural progression from there," Dinesh explained.
OpsVeda is a full-stack enterprise software company bringing to market a real-time operational decisions platform with patented data hub technology and AI. Focused on enterprise operations and supply chain, it's powerful insight-to-action solutions deliver predictive visibility and prescriptive automation towards opportunities, risks, and exceptions across the enterprise functions of order fulfillment, supply, manufacturing, logistics, inventory, assets, and channel / retail. OpsVeda customers span consumer-packaged goods, food and beverage, fashion and retail, pharmaceuticals, manufacturing, and high-tech industries.
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SOURCE OpsVeda, Inc.