What is SVOT?

SVOT is a single, real-time, authoritative representation of data (master data, business data, and transactional data) across business partners, that can be accessed by all relevant parties through a multi-party permissions framework. Traditionally, it has been very difficult for all trading partners to see the same information at the same time. This is because most businesses rely on enterprise-centric legacy systems that do not reflect real-time information, even within their own enterprise.

In addition, multiple systems within an enterprise mean duplicated and often contradictory data, that increases the complexity and uncertainty in decision-making. Couple that with the fact that business involves multiple parties, and the challenges are multiplied by the sheer number of upstream and downstream partners that need to collaborate. To enable a SVOT, companies need to be on the same platform and have a technology that enables real time data to be shared across the entire network of business partners and within the enterprise.

One Network’s multi-party NEO Platform provides a single version of truth (SVOT) to all the members of the network, with access strictly controlled by a patented permissions framework. Having an SVOT enables companies to share vital information rapidly, optimize performance, and plan and work together to resolve supply chain issues. It also allows businesses to identify and respond to risks early, and exploit business opportunities in a rapidly changing environment.

More importantly, a real-time SVOT enables a projected inventory view (PIV) at every node in the supply chain in near real time. Taking into account the on-hand inventory and the inbound in-transit, the system understands what the inventory is over a given time horizon. This enables the NEO Platform's supply-demand match capability, which looks at the demand and calculates the inventory, and identifies supply-demand mismatches well in advance. The system can then autonomously fix the issue by creating new orders, or expediting, etc., or alert the user to the issue and offer recommendations on how best to address the problem. This holistic view of demand, supply, and logistics, means the system can intelligently fix real problems, while leaving non-issues alone (such as late shipments that won't cause out of stocks).

So while a single version of truth is important, it's really the capabilities that it enables that really have a major impact, enabling a more agile, effective, and resilient supply chain.