Verusen Launches Cloud Platform Built on Artificial Intelligence to Improve Materials Inventory and Data Management
ATLANTA, March 13, 2019 /PRNewswire/ — Verusen, an innovator in materials inventory and data management technology, will launch its pioneering cloud platform at the “Salute to Digital Innovation and Intelligence in the Supply Chain” event taking place today from 3:30 to 6:30 p.m. at the Metro Atlanta Chamber.
Verusen’s cloud platform uses advanced artificial intelligence to harmonize and provide visibility into materials inventory data from ERP and other systems. The platform’s predictive capabilities also optimize inventory and procurement. Not only does it help companies avoid overstock costs and production risks from inaccurate materials inventory, the platform also supports a more agile supply chain that better handles the dynamic pace of today’s business climate and changing customer demands.
“Evolving customer demands and expectations are significantly impacting every supply chain around the world,” said Paul Noble, founder and CEO of Verusen. “Legacy systems piled on top of one another and non-integrated technologies, all with disparate data, create additional challenges for today’s supply chains. While we first saw this with B2C companies, it’s now fully impacting B2B businesses, as well―driving up costs of materials and processes while complicating continuity of knowledge and operations. Our technology addresses a massive need across every industry, especially manufacturing, where visibility and uptime are critical.”
AI Technology That Harmonizes, Controls and Predicts
The Verusen solution involves the most sophisticated artificial intelligence platform that can be efficiently deployed and effectively applied to provide materials visibility and digitization across global supply chains. The solution provides benefits in three key areas:
- Harmonize Disparate Inventory Systems Data The technology automatically integrates with ERP and disparate data sources from single or multiple systems and one or many locations. Then, the AI learns from the company’s own data and inventory experts and encodes their knowledge to provide seamless data harmonization and a true material master.
- Control Policy and Procedures for Proactive Materials ManagementWith disparate inventory data harmonized, Verusen’s solution provides the ability to search for the right materials and reveal true quantities across the enterprise. This prevents the procurement of duplicate materials. It also helps identify potential duplicates during the new material creation process to prevent over-purchasing and excess quantities in the future.
- Predict Inventory Needs for Continuous ImprovementThe technology builds upon the knowledge of a company’s inventory experts to create sustained, continuous application and improvement, including offering suggestions to continually optimize inventory allocation and procurement needs. Inventory reports help keep teams performing at the highest level while building trust between experts and data.
“ERP systems have a gap where materials data becomes hard to manage, costing companies millions of dollars annually in inventory-related expenses,” said Noble. “The Verusen technology fills that gap. By laying the appropriate data foundation, we can reduce working capital costs by 30 percent in one year.”
Pricing for the Verusen solution is based on a monthly subscription model.
Verusen’s “Salute to Digital Innovation and Intelligence in the Supply Chain” event features an interactive panel discussion with participants that include:
- Scott Luton, executive vice president of APICS Atlanta
- Tim Brown, managing director for the Supply Chain & Logistics Institute at Georgia Tech
- Mike Dennis, principal at Capgemini
- Mike Smith, director of Strategic Sourcing and Supplier Diversity, Graphic Packaging International
- Ben Harris, director of Supply Chain, Metro Atlanta Chamber
Additionally, Verusen will be giving a demo of the new technology platform. Register to attend here: https://bit.ly/2HiCsnj
Verusen is an innovator in materials inventory and data management technology that uses artificial intelligence to reduce working capital and support more agile supply chains. The company’s cloud platform harmonizes disparate materials inventory data from ERP and other systems for more proactive materials management, while also providing predictive capabilities that continually optimize inventory allocation and identify procurement needs. Based in Atlanta at the ATDC, Verusen is a SAP.iO company. Visit verusen.com for more information, or follow us on Twitter at @Verusen_AI and LinkedIn.