Lisa Bryan, 781/467-0399
BOSTON--(BUSINESS WIRE)--Aug. 20, 2002--SupplyScience, Inc., a provider of store-based demand forecasting and replenishment software, announced that the company has recently elected Bruce E. Welty as its new CEO and member of its Board of Directors. Welty was CEO of AllPoints Systems for 13 years before it was acquired by Dallas-based EXE Technologies (NASDAQ: EXEE - News) in 2001. Mr. Welty brings over 20 years of technology management and high-growth experience to SupplyScience. As SupplyScience`s CEO, Mr. Welty will be based in the Boston, MA office.
"We are delighted that someone of Bruce`s caliber has agreed to accept the position of CEO of SupplyScience", said Gil Roth, Founder and President. "We are convinced that Bruce`s strong background, coupled with his demonstrated ability to lead a growth-oriented company is exactly what we were looking for to accelerate our growth," added Roth.
"I am very pleased to be joining SupplyScience at this stage in its development. SupplyScience has ideal software products that are both easy to implement and support. DemandAnalytics(TM), our replenishment tool, and FORS(TM), our forecasting tool, bring clear strategic advantages and easily measured ROI to their clients. In this economic environment, these issues are at the forefront of the customer`s minds," said Mr. Welty, CEO of SupplyScience, Inc.
Mr. Welty started his career at Enterprise Technology Corporation in New York, NY, an equity trading and custody software company as a Product Manager. Welty then joined CAI, Coopers & Lybrand in Boston, MA as a Senior Manager where he helped develop the consulting practice for the Digital Equipment Corporation account and recruited and trained his consulting staff. In 1987 he co-founded AllPoints Systems, Inc. where he evolved the company from a consulting firm to a software product firm with an industry leading, award-winning industrial Warehouse Management Software (WMS) product.
Mr. Welty is a graduate of Colorado College where he earned a B.S. of Mathematics, with a concentration in economics. He also studied in the M.B.A. program at the Carroll School of Management, Boston College.
About SupplyScience, Inc.
SupplyScience, Inc., founded in 1996, develops and markets store-based demand forecasting and replenishment software for retailers, manufacturers, and distributors. Using sophisticated optimization algorithms, SupplyScience`s proven Web-based solutions allow supply chain participants to increase product availability and sales while reducing inventory levels and supply chain costs. Started in 1996 by the founders of the Technion University Optimization Laboratory.
SupplyScience`s optimizes the ordering process for Whole Foods Markets (NASDAQ:WFMI - News), PW Markets of California, and Unilever (NYSE:UL - News) SupplyScience`s. International customers include Israel`s largest food manufacturer (Tnuva), its largest retailer (Super-Sol; NYSE: SAE), and its largest pharmacy chain (part of General Health Services, the second largest HMO in the world after Kaiser-Permanente). SupplyScience is based in Boston, Massachusetts and is privately held. Investors include Israel Seed Partners, Israel Infinity Venture Capital, Millennium 3 Capital and Quan Ventures.
* (c) 2002 SupplyScience, Inc. All rights reserved.
DemandAnalytX, SupplyScience, and the SupplyScience logo are registered trademarks of SupplyScience, Inc. All other product names and trademarks mentioned herein are trademarks of their respective owners.