In today’s rapidly evolving business landscape, organisations are constantly seeking ways to gain insights from their resource management data and leverage it for proactive decision-making. The emerging trend of business intelligence aims at extracting valuable information from enterprise resource planning (ERP) systems using artificial intelligence (AI) techniques. However, relying solely on AI may not always be the best solution. Here we explore how WEIVI’s management tool surpasses traditional ERP systems and AI applications, offering a novel approach to predictive analytics and streamlining organisational operations.
WEIVI’s Innovative Technology and Deep Business Wisdom
WEIVI utilises scientific computing and mathematical modelling to meet and exceed the expectations of customer organisations. By harnessing this technology, WEIVI can create a digital twin that accurately portrays an organisation’s future development based on its current state and forecasts concerning environmental factors. Moreover, WEIVI enables organisations to test alternative management strategies and even complex restructuring scenarios without disrupting any existing operations. This level of real-time decision-making and comprehensive control makes WEIVI’s technology stand out in the field of business intelligence as deeper business wisdom.
Flexible Adaptability and System Integration
Selecting and implementing an ERP system is a strategic decision for any organisation. Unfortunately, many ERP systems often require significant adjustments and force organisations to restructure their operations unnecessarily. WEIVI, on the other hand, prioritises customer and user-centricity. WEIVI management tool, integrated with existing ERP, adapts seamlessly to the organisation, rather than vice versa. This flexibility enhances the overall user experience and empowers organisations to stay focused on their core competencies.
Real-World Applications
To further illustrate the advantages of WEIVI’s management tool, let’s consider a few examples of how the system’s features can revolutionise decision-making and optimise operations in real life:
Predicting the Impact of Price Increases
A critical subcontract agreement contains a clause for price adjustments scheduled to take effect in six months. However, the company’s financial forecast indicates a significant deviation from the desired outcome. With WEIVI’s forecasting capabilities and alert system, executives can quickly identify the issue. From the income statement they can drill down into the details, tracing the cause back to the subcontract agreement. With this information, they can quickly identify the issue and have adequate time to renegotiate the agreement or explore alternative supplier options.
Investment Planning with Simulations
When planning a substantial investment abroad, organisations can create a new business unit in WEIVI’s digital twin environment and simulate its profitability in various scenarios. By considering individual employment contracts, financial commitments, and other relevant factors within the digital twin environment, decision-makers gain valuable insights. If the simulations indicate that the investment will only be viable under utopian conditions, the strategic management can evaluate alternative solutions or decide not to proceed, saving potentially millions of dollars.
Crisis Management
Inevitably, machinery breakdowns can disrupt production and impact a company’s profitability. WEIVI’s software presents the financial and productional implications of machine failures, enabling organisations to react swiftly and efficiently. Companies can use simulations to assess how different strategies, such as adjusting supply chains and rescheduling work hours, would impact both the bottom line and production levels. Consequently, these proactive measures minimise damages, maintain a harmonious workflow, and ensure minimal disruption for employees and partners.
Conclusion – The Benefits of Digital Twin Technology
WEIVI’s digital twin technology offers organisations the ability to define and simulate any facet of their operations accurately. The flexibility to adjust organisational structure like chart of accounts and preserve reference data helps businesses test various organisational changes or optimise processes, enabling true knowledge based management. By combining advanced scientific computing, mathematical modelling, and a user-centric approach, WEIVI’s management tool surpasses traditional ERP systems powered by artificial intelligence in delivering advanced business intelligence solutions, empowering organisations to navigate this era of fast-paced change with confidence.
In the fast-paced world of business, where strategic decision-making is crucial, WEIVI’s management tool stands as a game-changer, helping organisations reach greater effectiveness by leveraging predictive analytics, optimising processes, and enabling businesswise knowledge based management.
