Welcome to Episode 27 of the Cloud Wars Horizon Minute — featuring news and commentary hosted by Acceleration Economy analyst Tom Smith. Each episode provides insights into one or more Innovation Accelerators on the Cloud Wars Horizon.
This episode delivers a quick overview of the tangible benefits electronics component distributor Avnet reports from its use of execution management software from Celonis.
00:35 — Avnet VP of Enterprise Effectiveness Stefan Maurer reports at least five concrete benefits from his company’s use of Celonis execution management
0:45 — Execution management helps Avnet effectively manage supplier price increases and profitably, which is an incredibly important consideration in today’s turbulent, inflationary environment
1:15 — Optimizing inventory, especially in light of end-of-life scenarios, is one of Avnet’s needs. Using Celonis, the company provides real-time alerts to buyers so they can react with cancelations where necessary
1:40 — The company believed it was operating at 100% electronic (EDI) transactions, but a deeper analysis found the actual number was closer to 70%, so it took corrective action and improved the figure to over 90%
2:05 — Analytics show progress against Celonis-recommended actions. Managers can see those actions that are completed, in progress, and not started. Those behind schedule can be addressed aggressively.
2:25 — There are also cost savings. The use of Celonis has freed up 8-10 million euros in working capital annually.
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