SPECTRA - AI Driven Analytics Platform
Driving Frictionless Business Decisions
Inventory Management Solution Using SPECTRA PlatformDecember, 2022
The Consumer Packaged Goods (CPG) Industry is one of the largest industries on the planet. From food and beverage to clothes to stationary, it is impo...
Boosting customer retention with Machine LearningNovember, 2022
If you are a business with a digital product or a subscription model, then you are already familiar with this key metric – “Customer Churn...
Simplify and Speed-Up Oracle Fusion Reporting with RL SPECTRAAugust, 2021
Oracle Fusion is an invaluable support to many businesses for managing their transaction data. However, business users would be familiar with limitati...
SPECTRA, the AI driven Analytics platform from Relevance Lab, based on Open Source technology, can fast track your journey from data to actionable insights. It can process data from structured data from different ERP Systems based on pre-existing adapters and unstructured data from PDFs, Emails, engineering drawings and commercial labels. Every organization has invested in a combination of tools, technologies and solutions to create their Data platforms. However most of these platforms are built with legacy technologies or fragmented components. When companies try to leverage the new technologies of Big Data, Cloud Architectures and Artificial Intelligence to achieve more meaningful Analytics a pre-built Platform like SPECTRA can save tremendous efforts, costs and time to provide a scalable and flexible alternative.
With built-in visualization layer and data integrators, SPECTRA enables faster value realization and demonstration in line with the Agile philosophy. Our customers spanning Consumer Products, Pharma and Medical Devices industries have tapped into multiple features of SPECTRA to derive tremendous value across their Commercial Planning, Sourcing, R&D and Clinical Operations functions.
Irrespective of the type of supply chain like commercial or clinical, SPECTRA helps you manage and plan your inventory levels, orders, shipments, forecast and balance demand and supply.
SPECTRA helps you evaluate and fine-tune your supply chain performance using predefined KPIs and enables the faster realization of your strategic business objectives. Your objective may be any of the below:
- Minimizing your stock-outs risks without compromising on your bottom line
- Bringing in more predictability in shipments
- Reduce your purchase price variance across suppliers
- Identify up-sell and cross-sell opportunities for your product range
- Managing your master data to remove duplicate vendors and suppliers
While doing this, with Google-like search capabilities coupled with OCR engine, SPECTRA can also help you extract meaningful data from PDFs, engineering drawings and catalogues and manage labels to enable faster insights from your research and development, ensure faster go-to-market for your products or manage strict regulatory norms of the pharma world.
Industry & Use Cases
SPECTRA platform currently caters to the needs of the life sciences and consumer industry, which includes, R&D, Clinical trials, Healthcare regulations, Supply chain, commercial, payer/ provider etc. The below diagram will provide a detailed overview of our value-driven approach to Analytics demonstrated using various use cases across the life sciences industry.
Industry Case Studies
|Sr. No.||Industry Vertical||Project Description||Business Benefits||User Persona|
|1||Consumer Products||Relevance Lab developed a comprehensive analytics solution for the sourcing team to keep track of the purchase price variance across different plants and also helped predict the impact of cost fluctuations on the final prices of finished goods. The solution combines data from multiple sources to build an analytics solution.||"Unified dashboard validate the price variance and variations in payment terms across geographies Consolidated report to track the impact of delayed payments Predict the effects of raw material cost variance on the prices of the finished goods"||Sourcing/Procurement Team|
|2||Consumer Products||Demand Predictions across 200+ warehouses||"Relevance Lab developed a Planning solution utilizing the projected demand and supply to predict the risk of stock-outs across 200 locations in Europe. Comprehensive tracking of KPIs eliminated the risk of stock-outs."||Planning Team|
|3||Pharma||Consolidation of documents and artefacts spread across different sourcing applications||Enabling the search functionality for a variety of sourcing applications and apply ACL||R&D|
|4||Medical Devices||EDG to Data Lake migration||Reduced the Total cost of ownership||BI Team|
|5||Industrial Products||Supply Chain Analytics to track Inflation||Executive dashboard to determine the impact of raw material sourced from foreign locations to calculate the tax impact accurately.||Pricing Analytics/Finance|
|6||Labelling||Scanned medical device labels which need information extraction using machine learning and OCR tools||Enabled unstructured search which is not possible via traditional tools||Marketing|
|7||Education||Consumer Retention Analytics||Better visibility on retention of student/school performance on e-learning digital platform||Sales/CRM|
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