Verusen Wins Top Supply Chain Industry Award for Highlighting $3.3 Million in Cost Savings for Global Fortune 500 F&B Manufacturer
17 Junio 2024 - 8:15AM
Verusen, the industry leader driving MRO (Maintenance, Repair, and
Operations) optimization and collaboration, announced it has won
the prestigious 2024 Top Supply Chain Projects award from Supply
& Demand Chain Executive and Food Logistics for uncovering
$3.3M in cost-saving opportunities for a global Fortune 500 Food
and Beverage (F&B) manufacturer and verifying over 12 thousand
materials for optimization.
Verusen was awarded for helping the F&B manufacturer
automate, optimize, streamline, and improve its supply chain.
“Winning the top supply chain projects award further validates
our commitment to bringing transformational change to our customers
in areas such as food and beverage,” said Scott Matthews, Verusen’s
CEO. “We are making it straightforward and cost-effective to use AI
and machine learning to help customers to better manage MRO and
indirect materials inventory, reduce costs, and build supply chain
resilience.”
Overcoming Challenges
The international F&B manufacturer features multiple
business units and systems of record generated through decades of
mergers and acquisitions activity. Because of this complex
structure and multiple variances within its Maintenance, Repair,
and Operations (MRO) inventory data, the company lacked visibility
and control in its indirect materials management processes.
Verusen worked with the F&B manufacturer to adopt Verusen's
Trusted Material platform to address its MRO and indirect materials
management challenges. Verusen’s platform helps large companies
optimize their MRO inventory levels, reduce excess inventory, and
identify critical shortages. It leverages AI technology and works
without requiring the traditional data cleanse or a lengthy
implementation process.
The Global Fortune 500 F&B Manufacturer has verified over
12K materials for optimization, resulting in $3.3M in cost-saving
opportunities. Additionally, over 600 materials have been verified
at risk of shortage, helping to increase its estimated service
level improvement to 90% from 60%. Such impressive numbers set the
stage for expanding platform adoption into other global regions for
Verusen’s F&B Manufacturing partner.
Verusen Trusted Material Capabilities
Verusen’s F&B Manufacturing partner used Verusen's Trusted
Material platform for the following capabilities:
- AI and machine learning algorithms: The AI/ML in the Verusen
platform helps companies analyze MRO inventory data from various
sources, identify product availability patterns, and provide
insights for inventory optimization and procurement
decision-making.
- Data harmonization: Verusen’s Trusted Material platform ingests
and harmonizes MRO inventory data from multiple systems, such as
ERP software, maintenance management systems, and other data
sources. This data integration consolidates fragmented MRO
inventory data into a single platform.
- Inventory Optimization: The platform uses algorithms and
analytics to optimize MRO inventory levels. This helps lessen
excess inventory while gaining visibility into the availability of
critical spare parts and materials that may also be at risk of
stockout.
- Procurement Optimization: The Trusted Material platform
provides companies with insights and recommendations for
streamlining MRO procurement processes such as supplier
collaboration, consolidation, and tail spend reduction. It helps
organizations identify optimal suppliers, negotiate better pricing,
and improve procurement efficiency.
- Single platform view: A key advantage of Verusen's Trusted
Material platform is that a company can view all its MRO inventory
in a single platform, including other systems of record used across
the organization. This consolidated view of MRO data and inventory
improves visibility and decision-making.
Verusen offers a range of MRO and indirect materials management
use cases that directly contribute to manufacturers’ operational
excellence and bottom lines. To learn more, please
visit: verusen.com.
About VerusenVerusen is a leading MRO Inventory
Intelligence provider focused on helping global manufacturers
streamline their MRO supply and materials management strategy.
Verusen utilizes advanced data science and artificial intelligence
to harmonize disparate MRO data across multiple enterprise systems
to provide complex supply chains with true visibility for supply
and inventory planning and procurement intelligence. This helps
organizations reduce risk, optimize working capital, and ensure
production uptime to meet customer needs. The result is a
foundation organizations can trust to fuel digital transformation
and support supply chain maturity initiatives. Headquartered in
Atlanta, Verusen has been named one of Georgia’s Top 10 Innovative
Technology Companies. Visit verusen.com for more information, or
follow us on Twitter at @Verusen_AI and LinkedIn.
About Supply & Demand Chain
ExecutiveSupply & Demand Chain Executive is the only
supply chain publication covering the entire global supply chain,
focusing on trucking, warehousing, packaging, procurement, risk
management, professional development, and more. Supply & Demand
Chain Executive and sister publication Food Logistics also operate
SCN Summit and Women in Supply Chain Forum. Go to www.SDCExec.com
to learn more.
About Food LogisticsFood
Logistics reaches more than 26,000 supply chain executives in the
global food and beverage industries, including executives in the
food sector (growers, producers, manufacturers, wholesalers and
grocers) and the logistics section (transportation, warehousing,
distribution, software and technology) who share a mutual interest
in the operations and business aspects of the global cold food
supply chain. Food Logistics also operates SCN Summit and Women in
Supply Chain Forum. Go to www.FoodLogistics.com to learn more.
PR Contact:Greg CrossPenVine for
Verusengreg@penvine.com+1 925 413 5327