Software links manufacturer, retailer, and retail operations.
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Press Release Summary:
Suitable for RFID or non-RFID environments, TrueDemand Forecasting and Replenishment Suite offers view of demand and inventory by integrating execution-based replenishment and forecasting applications. Forecasting engine enables customers to extract critical elements from partial set of event-driven data, and replenishment capabilities monitor out-of-stocks and excess inventory of supply chain. System combines ePC with POS data to manage replenishment process.
Original Press Release:
TrueDemand Software Announces Release of Execution Based Replenishment and Forecasting Solutions for Retailers and Consumer Goods Manufacturers
TrueDemand Forecasting and Replenishment Suite Brings the Consumer Goods Manufacturer Closer to the Customer by Linking Manufacturer, Retailer and Retail Store Operations
LOS GATOS, Calif., March 1 / -- TrueDemand Software, a leader in next generation supply chain solutions, today announces the release of its suite of execution-based replenishment and forecasting applications. Available immediately, the TrueDemand Forecasting and Replenishment Suite works in either RFID or non-RFID environments to deliver reductions in inventory out-of-stocks and to helps reduce operations and labor costs for retailers and consumer goods manufacturers. Additionally, the suite enables retailers to improve their store execution and to streamline merchandising while improving collaboration with suppliers. TrueDemand's replenishment and forecasting applications are the first of their kind to have been built from the ground up to take advantage of the new RFID data and other event data -- including POS data -- in a supply chain application. As a result, retailers and consumer goods companies alike will realize significant benefits by being able to implement a true execution-based replenishment system.
With its suite of replenishment applications, TrueDemand has gone beyond simple analytics and has built a solution that ties together the army of individuals who make up consumer goods and retailer replenishment processes. The TrueDemand application presents them with a single view of demand and inventory and integrates execution capabilities into the process. As a result, customers can not only better anticipate potential problems in the supply chain, but they can proactively and automatically remedy supply chain problems before they occur.
"One of the major side effects related to the emergence of RFID has been the generation of unprecedented amounts of data," said Steve Banker, director, supply chain management at ARC Advisory Group. "Thus far, the industry has been spinning its wheels trying to figure out how to extract value from these mountains of information. The ability to make sense of this event-driven data and use it to streamline operations and reduce costs has proven to be the elusive 'last mile' of the RFID-enabled supply chain. With their replenishment suite, TrueDemand has taken an important step towards maximizing the value of event-driven data for the retail and consumer goods industry."
TrueDemand's forecasting and replenishment suite features a new forecasting engine, developed under the guidance of Dr. Hau Lee of Stanford University, which enables customers to extract critical elements from a partial set of event-driven data to improve on demand forecasts. Its best-of-breed replenishment capabilities help to reduce out-of-stocks and improve the execution capabilities of the supply chain, resulting in significant reductions in overhead costs. Other features include:
o Specific promotions and new product introduction features that provide
tangible and actionable recommendations to relevant end-users that
facilitate product movement and availability;
o Retail specific features to help improve store replenishment operations
and improve on shelf availability, enabling continuous replenishment
between manufacturers and retailer;
o Integration features that enable the suite to operate as a compliment to
INFOREM and in a framework that easily integrates into leading ERP
solutions;
o Ability to be delivered as a hosted solution for RFID pilot customers;
and
o Features specifically designed to help the consumer goods manufacturer optimize their replenishment processes with the major retailers.
"Everyone is trying to gain a better understanding of the end consumer demand," said Eric Peters, CEO of TrueDemand Software. "Our goal is to help improve service to the consumer by creating a clearer picture of the true demand for an item, and to integrate that demand information into the forecasting and replenishment decision-making processes. By building the industry's first solution from the ground up to take advantage of not only today's event data, but also RFID data as it becomes more readily available, we have built a solution that will grow as event data grows and becomes more accessible in the supply chain. Regardless of where companies are in the process, we have a solution that will deliver value to both the RFID or non-RFID enabled company and put them in closer touch with their customer and the true demand."
"Eighteen months of work have gone into building the new algorithmic engines contained in the forecasting and replenishment suite," said Dr. Hau Lee. "They have been tested with millions of lines of ePC data. The movement to an event-based forecasting engine is one of the most significant advancements in the past 20 years in forecasting. This is one of several firsts in this new suite of applications from TrueDemand."
Other firsts achieved by TrueDemand include the first forecasting engine built from the ground up to take advantage of ePC data as well as the first and only applications that combine ePC data with POS data to manage the replenishment process. The solution also features industry-first data filtering and management capabilities that make ePC data manageable in a replenishment application. These landmark developments will enable customers to go beyond analyzing data to making actionable business decisions.
About TrueDemand (http://www.tdemand.com/)
TrueDemand Software, a leader in next generation supply chain solutions, provides a new class of predictive supply chain solutions that help solve supply chain execution, replenishment and planning problems to reduce out-of-stocks and excess inventory. By combining event information with TrueDemand's business solutions, organizations can better manage the live replenishment of RFID-tagged and non-tagged inventory from production through sale across the supply-and-demand network. As a result, customers can better anticipate and proactively remedy supply chain problems before they occur, gaining greater value from their supply chain investments. The TrueDemand team includes RFID innovators and proven supply chain experts instrumental in the advancement of RFID technology and the efforts of the Auto-ID Center, now EPC Global. Headquartered in Los Gatos, California, the company is backed by leading venture capital firms Mayfield and Bay Partners. Visit www.tdemand.com/ for more information.
Source: TrueDemand Software
