Innovative enterprise-wide materials intelligence platform provides MRO supply and material visibility across the entire enterprise network
Enables global manufacturers to implement Virtual Networks and scenario models across their Indirect material supply chain without the prerequisite of data cleansing and preparation. The results are continuous inventory balancing, sourcing intelligence, and supply risk reduction delivering the perfect balance of capital to risk across their network
ATLANTA, July 28, 2022 (GLOBE NEWSWIRE) -- Verusen, a leader in materials intelligence today announced Trusted Network, the first Supply Chain and materials management-centric, AI-driven platform to provide MRO supply and material visibility for a wide range of Fortune 500 customers.
The most difficult challenge for suppliers/manufacturers is identifying strategic sourcing opportunities across multiple facilities. Procurement and operations leaders need increased visibility into their data and to be able to trust their data is correct in real-time. They must have complete knowledge of supplier lead times and spending across a range of facilities to understand purchase behavior. They want to allocate their inventories better and reduce costs to remove the risk of undelivered goods.
Gartner research shows that through 2024, 50% of supply chain organizations will invest in applications that support artificial intelligence (AI) and advanced analytics (AA) capabilities. Improved decision making through the use of AA and AI is a high priority for supply chain users in all markets and industries.
Verusen’s Trusted Network solves today’s material management challenges by connecting and delivering a purpose-built intelligence across the enterprise, providing the benefits of deep machine learning and AI without the need to hire or train data scientists, all to de-risk supply chains and optimize costs.
“Today, it is more difficult than ever to manage through the chaos across an enterprise supply network. As a result, executives must decide to accelerate the use of purpose-built solutions to take command of not only their global supply chain and materials data but their entire business,” said Paul Noble, founder and CEO of Verusen. “Creating trust in materials at scale is the goal, and Trusted Network is the answer. Centralizing data from all points of the supply and materials continuum and applying the power of AI across the enterprise, Verusen connects once disparate materials data to generate guidance for actionable decisions. The platform works to ensure that production and supplies are in harmony, driving more profitable and responsive businesses.”
According to the Senior Manager, Supply Chain, at a Top 5 Pulp & Paper Company: “We are excited about Verusen’s Trusted Network as it will enable us to share spare parts across facilities, thereby allowing us to implement a strategy to reduce our total inventory. Being able to run “what-if” scenarios, and easily and quickly analyze complex problems within our network is an industry game-changer. Verusen’s Trusted Network’s insights, decision, and execution support will lead to more value capture and actionable insights for the entire team."
Trusted Network Features and Benefits: Simple, Configurable, Sustainable
- Provides inventory visibility and actionable insights across the entire global enterprise in less than 90 days.
- Allows enterprises to build networks based on a variety of criteria/variables with the added capability to find “unintuitive” opportunities through an automated networks feature.
- Reduces lead time risk to more efficiently consume overmax by aggregating materials at an internal site through the solution’s redistribution recommendations.
- Enables collaboration between facilities including strategic sourcing alignment across facilities.
- Reduces procurement requirements/efforts and highlights opportunities to reduce working capital and risk.
To see a demo of Trusted Network please visit:
https://verusen.com/demo-reprise-trusted-network-overview/
About Verusen
Verusen is a leading Supply Chain Intelligence provider focused on helping global manufacturers streamline their supply and materials management strategy. Verusen utilizes advanced data science and artificial intelligence to harmonize disparate material data across multiple enterprise systems in order to provide complex supply chains with material truth 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 that 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 40 Innovative Technology Companies. Visit verusen.com for more information, or follow us on Twitter at @Verusen_AI and LinkedIn.
PR Contact:
Greg Cross
PenVine for Verusen
greg@penvine.com
+1 925 413 5327
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0e3c81d8-fb5e-458f-aac5-9da3aab6bd31
