Prescient Announces New Advanced Commerce Modeling Solution
First-of-its-Kind Functionality Enables Companies to Simulate Scan-Based Trading Scenarios And Audit Pay On Scan Practices
West Chester, Penn. – April 18, 2005 – Prescient Applied Intelligence, Inc. (OTCBB:
PPID), a leading provider of supply chain and advanced commerce solutions for retailers
and suppliers, today announced the availability of its Advanced Commerce Modeling
solution which includes a Scan-Based Trading (SBT) Simulation tool that enables retail
trading partners to replicate and test SBT scenarios without committing to full-scale
implementation, and a Pay On Scan (POS) Audit tool that enables suppliers to identify
discrepancies in POS settlements.
SBT Simulation provides visibility into commerce level data, like true SBT, but doesn’t
involve inventory buy back or actual invoice generation. The simulation supplies a
snapshot of the information, and subsequently the value, that an organization can
gain from an SBT implementation. The POS Audit utilizes the retailer’s pay on scan
catalog information and compares actual settlement to what a supplier thinks
settlement should be. It also enables suppliers to spot exceptions and discrepancies
and take the necessary action to resolve them, resulting in more cost-effective retailer
relationships.
“Trading partners must take a more creative approach to their relationship if they expect to
survive in today’s highly competitive retail market. Initiatives such as scan-based trading
and pay on scan increase point of sale visibility and create supply chain efficiencies, but
they also represent a major change in the way in which a company does business,” said
Jane Hoffer, president and CEO, Prescient. “Prescient’s SBT Simulation allows trading
partners to test and validate the value of SBT before they make a significant investment.
The POS Audit enables suppliers to identify – and address – discrepancies within an
existing POS program.”
Two of Prescient’s customers recently gained valuable insights into their supply chains
through utilizing the Advanced Commerce Modeling solution:
· A snack food manufacturer was experiencing major discrepancies around product
count: the number of products sold wasn’t consistent with the number that had
been delivered. The manufacturer and one of its major retail partners agreed to
embark on an SBT simulation program to see if it would provide the visibility
necessary to resolve this issue. Prescient’s sophisticated modeling process helped
to identify the problem: the manufacturer was shipping multi-packs to the store,
which were then being broken down and sold as single units. Through SBT
simulation, the manufacturer discovered that it will have to change the way in
which its products are packaged and labeled in order to participate in a full-scale
scan-based trading program.
· Another supplier used Prescient’s POS Audit to identify a problem with its creditreporting
process. The Prescient system generates reports on key data including
scan sales, deliveries, and inventory count, highlighting areas where the data that
falls outside the acceptable standards for that particular supplier. The supplier
noted that, with one particular retail location, there were consistent discrepancies
between what they were delivering and what they were being paid for. Thanks to
Prescient, the supplier discovered that its internal system was not correctly
reporting credits from returned products, and was able to rectify its own processes
to resolve the billing discrepancies.
Prescient provides a continuum of SBT solutions for retailers and suppliers that translate
consumer insight into better execution at the store shelf by capturing scan-sales data,
improving forecast accuracy, and increasing supply chain efficiencies.
About Prescient Applied Intelligence:
Prescient Applied Intelligence enables retail trading partners to align planning and
execution with changing market needs to maximize relationships and deliver on the
promise of collaborative commerce. The company’s retailer-centric and collaborative
commerce solutions are designed with the understanding that product demand and
business processes are fluid. Prescient’s solutions capture information at the point of sale,
provide greater visibility into real-time demand, and turn data into actionable information
across the entire supply chain. As a result, the company’s products and services enable
trading partners to compete effectively, increase profitability, and excel in today’s retail
business climate. Household brand names like Ahold, AutoZone, Binney & Smith (Crayola
Brand), Coors, Domino’s Pizza, Sara Lee and Schwan’s rely on Prescient. For more
information, go to www.prescient.com.
Forward-looking Statement
Any statements contained in this document that are not historical facts are forward-looking
statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words
such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,”
“project,” “predict,” “should” and “will” and similar expressions as they relate to Prescient
Applied Intelligence are intended to identify such forward-looking statements. Prescient
Applied Intelligence may from time to time update these publicly announced projections,
but it is not obligated to do so. Any projections of future results of operations should not
be construed in any manner as a guarantee that such results will in fact occur. These
projections are subject to change and could differ materially from final reported results. For
a discussion of such risks and uncertainties, see “Risk Factors” in Prescient’s report on
Form 10-KSB filed with the Securities and Exchange Commission and its other filings under
the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the dates on
which they are made.
# # #
Andrew Wexler, Prescient
610-719-1600, ext. 327
awexler@prescient.com
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