Prescient, a leading provider of supply chain planning solutions for consumer products suppliers, and Silvon Software, Inc., a provider of analytic applications for business performance management, announced a strategic partnership that will combine Prescient's award-winning retailer-centric demand planning solution with Silvon's business analytics software. Prescient customers will benefit from greater visibility into retail demand data and Silvon users will be able to add Prescient's supply chain planning solutions to support collaboration programs with trading partners.
In the United States, Prescient and Silvon already share multiple clients, including AAi.FosterGrant, Riviana Foods and Zondervan Publishing House. Joint clients will be able to take advantage of a completely integrated solution combining advanced supply chain planning with performance measurement and monitoring. In addition, Silvon's strong global presence will augment Prescient's international sales operations.
An increasingly competitive retail environment dominated by Wal-Mart has forced competing mass-merchandise, grocery and chain-drug retailers to differentiate themselves with new programs and initiatives in the battle for consumer loyalty. The current retail business climate puts pressure on suppliers to develop greater packaging options, offer lower prices and participate in a variety of collaboration programs such as vendor-managed or co-managed inventory programs.
Prescient's retail-centric collaboration approach alleviates this pressure by empowering suppliers like AAi.FosterGrant to collaborate with each of their retail partners based on their unique requirements without compromising their own business objectives or incurring additional costs.
Silvon's technology platform and data repository complement Prescient's retail-centric solution by enabling users to analyze, access and store, retail-level data such as POS data/product information collected by retailers when products are scanned through checkout. Prescient clients can now leverage detailed analysis of POS data not only to generate more accurate demand plans, but also to measure their success based on the supply chain performance metrics for which retailers are holding them accountable.
As part of the partnership, Silvon can now extend its supply chain planning capabilities with Prescient to offer advanced capabilities, including inventory optimization, vendor-managed inventory and advanced-line sequencing. Leveraging the Prescient suite, Silvon's customers will be able to create stronger and more influential collaborative relationships with their trading partners, ultimately improving the profitability of their retail relationships.
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