Press Release Summary:
Trading Partner Connect v8.0, Internet trading network, streamlines commerce process between distributors, manufacturers/suppliers, and end-users. Dead stock database is queried when member's purchasing agent begins processes, allowing purchase of dead stock, at discounted price, from other trading partners. Alerts are provided when new manufacturer lines are available for rationalization, and to notify members when new member joins, encouraging new partnerships.
Original Press Release:
Prophet 21 Releases Trading Partner Connect Version 8.0 Internet Trading Network Continues to Improve Services for Members
YARDLEY, PA, March 10, 2003 - Prophet 21 announced today the release of Trading Partner Connect version 8.0.
Prophet 21 provides distributors and manufacturers/suppliers with technology solutions that help them increase sales, improve customer service, and reduce operating costs. Trading Partner Connect, an Internet trading network, streamlines the commerce process between distributors, manufacturers/suppliers, and end-users.
"Trading Partner Connect 8.0 delivers new features and tools that will increase ease-of-use and functionality for trading partners," says Chuck Boyle, Prophet 21 president and CEO. "This version also strengthens the infrastructure of the network."
Streamlined Dead Stock Purchasing
Trading Partner Connect 8.0 features an enhancement in which the dead stock database is queried when a member's purchasing agent begins his processes, allowing him to buy dead stock - at a discounted price - from other trading partners. This will give members additional opportunities to sell their obsolete inventory.
"The integration marries the timing issue with the dead stock issue - and that's significant," says Lee Eagan, CEO of Oliver H. Van Horn. "This will lead to a significant reduction in dead stock, as well as a margin increase for those who procure the dead stock."
"If someone makes 20 percent on an item when they buy it from their supplier, they could make 40 percent when they buy it as dead stock from another distributor. And the best thing is, they'll buy it when they really need it," continues Eagan. "One guy gets rid of his dead inventory and the other guy makes more money - it sounds like a win-win to me."
Other new tools available to members of the Internet trading network include alerts when new manufacturer lines available for rationalization, encouraging trading partners to rationalize as many lines as possible for maximized sourcing. To aid in this process, members may view the number of items that they have rationalized in a line, as well the total number of items in that line available for rationalization. This dynamic list will also include which vendors are included for each line.
Alerts will also notify members when a new member joins, encouraging new partnerships. All members are listed in an online directory, which is personalized for each member to indicate members with whom trading relationships have been established.
Pricing and Availability
Trading Partner Connect version 8.0 is currently available. For additional information and pricing, please visit www.p21.com or call 1-800-PROPHET. Existing customers can contact their Prophet 21 Inside Sales Representative directly.
About Trading Partner Connect
Trading Partner Connect, Prophet 21's Internet Trading network, is the industry standard for distributors and manufacturers who want a secure, fast, and reliable network in which to share information and conduct e-commerce. Trading Partner Connect streamlines the commerce process between distributors, manufacturers/suppliers, and end-users, thereby increasing sales and improving customer service while reducing operating costs.
Through Trading Partner Connect, distributors can access millions of items, enabling them to compete on a larger scale and improve customer service. Distributors further benefit from eliminated EDI VAN charges and dead stock reduction. Trading Partner Connect also provides distributors with a Web-based storefront to give end-users online customer service as well as ordering capabilities 24 hours a day, seven days a week. Manufacturers benefit as well, by improving their ability to interact with distributors, reducing supply chain costs, more accurately predicting consumer usage of their products, and increasing sales. Trading Partner Connect consists of four components: B2B Alliance, B2B Marketplace, B2B Gateway, and B2B Seller.
About Prophet 21
Since 1967, Prophet 21 has been a leader in providing durable goods distributors with innovative, adaptive solutions essential for running their businesses. With more than 2,000 customers and 70,000 users conducting over $35 billion in highly complex supply chain transactions annually, Prophet 21 is a true business partner, helping companies of all sizes leverage technologies and maintain a competitive advantage. Through its business technology and services, Prophet 21 seeks to streamline customers' business processes and reduce transaction costs to maximize profit and growth.
Prophet 21 offers enterprise software solutions that provide organizations with powerful, highly customizable applications designed to improve customer service and maximize their return on investment. In addition, the company offers an Internet trading network that streamlines the commerce process between distributors, manufacturers/suppliers, and end-users. A complete line of professional services backs all Prophet 21 solutions.
For more information about Prophet 21, please visit www.p21.com or call 1-800-PROPHET, ext. 3120.