Verusen Launches Trusted Network to Overcome Data Disparity and Reduce Risk Across the Supply Chain
Innovative enterprise-scale materials intelligence platform provides visibility into sourcing and MRO materials across the enterprise network
Enables global manufacturers to implement virtual networks and scenario models in their indirect materials supply chain without the prerequisite of data cleansing and preparation. The results are continuous inventory balancing, supply intelligence and reduced supply risk, providing the perfect balance of capital and risk across their entire network.
Verusen, a leader in materials intelligence, announced Trusted Network, the first AI-powered platform focused on supply chain and materials management to provide visibility into sourcing and MRO materials to a wide range of Fortune 500 clients.
The most difficult challenge for suppliers/manufacturers is identifying strategic sourcing opportunities across multiple facilities. Purchasing and operations managers need increased visibility into their data and the ability to be confident that their data is correct in real time. They must have a comprehensive understanding of vendor lead times and spend across a range of facilities to understand buying behavior. They want to better allocate their inventory and reduce costs to remove the risk of undelivered goods.
Gartner research shows that by 2024, 50% of supply chain organizations will invest in applications that support artificial intelligence (AI) and advanced analytics (AA) capabilities. Improving decision making through the use of AA and AI is a high priority for supply chain users in all markets and industries.
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The Verusen Network of Trust solves today’s materials management challenges by connecting and delivering purpose-built intelligence across the enterprise, delivering the benefits of deep machine learning and AI without the need for hire or train data scientists, all to reduce supply chain risks and optimize costs.
“Managing the chaos of an enterprise supply network is harder than ever. As a result, executives must decide to accelerate the use of purpose-built solutions to gain control not just of their global supply chain and materials data, but of their entire enterprise,” said Paul Noble, founder and CEO of Verusen. “Creating trust in materials at scale is the goal, and Trusted Network is the answer. By centralizing data from all points of the supply and materials continuum and applying the power of AI across the “business, Verusen connects data from once disparate materials to generate insights for actionable decisions. The platform ensures that production and supply are in harmony, driving more profitable and responsive businesses.”
According to the Senior Manager, Supply Chain, at one of the top 5 pulp and paper companies: “We are excited about Verusen’s trusted network, as it will allow us to share spare parts between facilities, we allowing us to implement a strategy aimed at reducing our total inventory. . Being able to run what-if scenarios and easily and quickly analyze complex issues within our network is a game-changer for the industry. Verusen’s Trusted Network insights, decision-making and execution support will enable the entire team to capture more value and actionable insights. »
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Features and Benefits of the Trusted Network: Simple, Configurable, Durable
Provides inventory visibility and actionable insights across the global enterprise in less than 90 days.
Enables businesses to create networks based on a variety of criteria/variables with the added ability to find “non-intuitive” opportunities through automated networks functionality.
Reduces lead time risk to consume overmax more efficiently by consolidating materials at an internal site with solution re-distribution recommendations.
Enables cross-facility collaboration, including cross-facility strategic sourcing alignment.
Reduces procurement requirements/efforts and highlights opportunities to reduce working capital and risk.
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