Intelligent process mining (IPM) is a combination of a process mining platform and a framework that businesses can leverage to quickly implement process excellence. Having true end-to-end visibility of your most complex processes and the experience to capitalize on these digitization efforts is more integral than ever before. If you’re a fan of Microsoft Visio’s process diagrams and documentation tools, intelligent process mining is the modern-day version of Visio where we have coined the term, “Visio on Steroids!”.
Implementing the best fit process mining tool for your business needs and marrying that with heavily experienced industry experts that understand unique company-specific processes is a winning formula for any process excellence initiative.
The blueprint for success during a pandemic that has plagued many industries impacted by their supply chain is forward-thinking preparation, a dynamic approach, and industry-specific experience. Learn to capitalize on the mistakes of your competitors and develop key strategies, create new methodologies, and implement state-of-the-art technologies that can make you that front-runner in that space. Dive deeper into your business processes and identify key process improvement initiatives that create real sustainable value for your firm.
To further the intelligence of both the platform and implementation of process mining platforms, robotic process administration (RPA) and artificial intelligence (AI) can help streamline steps that are not only simple and repetitive but can also solve more complex process scenarios through machine learning.
What is EDI?
Simply stated, EDI stands for Electronic Data Interchange which has been around for a long time. Originally used by the U.S. military in the early 1960’s as part of their supply chain, EDI allows what is referred to as trading partners or trading relationships such as vendor/supplier or warehouse/customer to electronically exchange messages in a predefined format. These messages are typically purchase orders (sales orders), invoices, advanced shipping notifications, but depending on the industry, business, and trading partner requirements, there are a plethora of messages that can be utilized for almost any industry. This is further dependent on the relationship of trading partners, business justification, and technical capabilities.
How can IPM & EDI be used in conjunction with one another?
In conjunction, IPM can help organizations of all sizes from the enterprise, mid-market, and even small businesses that utilize EDI to mine their data to discover processes that can reveal what could only be previously recognized once there were:
- Missing turnaround documents such as invoices, order acknowledgements, order changes, ASN’s, and so forth.
- Costly chargebacks to the supplier.
- Supplier report cards which identified problematic areas for improvement.
- Forecasting/Replenishment scenarios for Vendor Managed Inventory (VMI) and Scanned Based Trading (SBT).
- Automate processes by leveraging optical character recognition (OCR) to extract data that can then automate tasks such as the creation purchase orders, sales orders, invoices, deliveries, and so on.