October 27, 2003
ITN RELEASES ENHANCED VMI MODULE TO PRODUCTION
Livermore, CA. October 27, 2003. Adding to their multiple modules and functionality offering, iTradeNetwork (ITN), today announced that their Vendor Managed Inventory (VMI) solution has been adopted by a number of key customers and is in full production. The solution allows for automatic monitoring of inventory activity levels and triggers replenishment orders for predetermined targets.
ITN's collaborative software enables supply chain management to seamlessly view historical inventory movement, real time forecasting, and procurement management within a single point of operation. This increased flexibility, accuracy in forecasting, and real time data processing improves efficiency in order management.
"ITN continues to distinguish ourselves as the solution of choice for the food industry with our VMI solution. The key to our successful launch of VMI has been our strong partnership with our customers and the customers' ability to leverage customer specific data from the ITN procurement system to effectively plan ongoing requirements. Our VMI solution provides food service distributors, retailers and their suppliers with the vital data they need for immediate analysis and decision making which naturally translates to procurement efficiencies and cost savings." said Robert Bonavito, CEO of iTradeNetwork.
About iTradeNetwork:
iTradeNetwork, is a privately held company that provides collaborative workflow solutions (Procurement, Contract and Management Rebate, Logistics, Promotion, Demand Forecast, VMI, Financial Services and Content) for the food industry and low cost integration to customers legacy systems. iTradeNetwork's e-business solutions are being utilized by 11 of the top 15 North American Retailers and many of the leading Foodservice companies with over 2,300 customers.
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