SCOTTSDALE, Ariz., Sept. 18,
2023 /PRNewswire/ -- Tecsys Inc. (TSX: TCS), an
industry leader in supply chain management software, today
announced the launch of the Tecsys Innovation Lab™, designed to
harness the practical potential of state-of-the-art technologies in
service of its hundreds of supply chain customers worldwide. The
announcement, made at the company's 2023 user conference,
underscores Tecsys' more than 40-year commitment to innovating with
customers and partners to solve complex supply chain problems and
deliver competitive value.
The Tecsys Innovation Lab™, a research-driven group within
Tecsys' Product and Technology Team, is committed to evaluating
cutting-edge technologies to address intricate supply chain
challenges. The Lab will harness an array of advanced technologies
including, but not limited to:
- Artificial Intelligence, Machine Learning and Generative
AI to expose hidden inefficiencies and accelerate informed
decision-making.
- Data Science to explore, analyze and visualize
business data utilizing metaheuristic algorithms with a focus on
supply chain optimization.
- Process modeling and simulation to build digital twins
and conduct what-if analyses on demand, inventory and
transportation.
- Advanced search and data methodologies to detect
and diagnose complex supply chain product and process
interdependencies.
"With R&D investment representing more than 15% of Tecsys'
annual revenue, investment in innovation is deeply ingrained in the
company's DNA," said Martin
Schryburt, senior vice president of Product and Technology.
"The establishment of the Tecsys Innovation Lab™ reflects our
commitment to not only setting the standard in the world of supply
chain management but continuing to raise it. It will serve as our
hub for pioneering and perfecting next-generation solutions for our
industry."
Tecsys customer Werner Electric is an early collaborator in
Tecsys' innovation lab concept. Jonah
Reinhardt, IT Business Systems manager at Werner Electric,
shared, "In our journey with Tecsys, Werner Electric has benefited
from advanced and applied AI initiatives that have resulted in
competitive advantages. These advantages range from faster
onboarding time and more efficient use of warehouse resources to
sustaining a 30% to 40% reduction in travel distance for pick paths
using augmented cluster building. We are thrilled to continue
co-creating the future state of our supply chain through a lens of
innovation."
Tecsys' approach to innovation is fundamentally customer
centric. The Tecsys Innovation Lab™ emphasizes a scenario-based
approach for research, ensuring it is a meaningful testbed for
customer value. Built around a data science framework, it is
designed to address real-world business challenges through rapid
prototyping.
"This initiative is about results over buzzwords," explained
Vasco Kollokian, director of Innovation and AI. "The Tecsys
Innovation Lab™ is more than just a research team. It's a hub of
creativity, exploration, and solution-driven innovation. We're not
just focused on exploring new technologies; we're applying them in
ways that bring tangible benefits to our customers."
The Tecsys Innovation Lab™ aims to foster value-added
collaborations that support its mandate. For instance, Tecsys
solutions are often built on AWS which provides a robust,
feature-rich, AI-empowering cloud infrastructure that enables rapid
experimentation and prototyping at a low cost of ownership. In
forging partnerships around its innovation mandate, Tecsys strives
to amplify its impact for value creation.
For more information about the Tecsys Innovation Lab™ or to
schedule an interview, please contact media@tecsys.com.
About Tecsys
Since our founding 40 years ago, much has changed in the realm
of supply chain technology. But one thing has remained constant; by
developing dynamic and innovative supply chain solutions, Tecsys
has been equipping organizations for growth and competitive
advantage. Serving healthcare, distribution and converging commerce
industries, and spanning multiple complex, regulated and
high-volume markets, Tecsys delivers warehouse management,
distribution and transportation management, supply management at
point of use, and retail order management, as well as complete
financial management and analytics solutions.
Tecsys' shares are listed on the Toronto Stock Exchange under
the ticker symbol TCS. For more information on Tecsys,
visit www.tecsys.com.
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SOURCE Tecsys Inc.
