TrueDemand Launches With Six Million in Funding to Develop New Class of Predictive Applications That Will Drive Value from RFID Implementations
Investments from Mayfield and Bay Partners Provide Capital to Create Applications that Enable Organizations to Gain Greater Value from RFID Investments
LOS GATOS, Calif., Aug. 1 -- TrueDemand Software, Inc. today announces the launch of the company and its strategy to deliver a suite of radio frequency identification (RFID) applications for manufacturers and retailers that will help organizations derive tangible and rapid value from the data generated by RFID tags. TrueDemand`s new class of predictive supply chain solutions provides an innovative approach towards solving execution and planning problems to reduce out-of-stocks and excess inventory. The company is backed by $6 million in funding from Mayfield and Bay Partners. TrueDemand`s first applications are currently being tested with customers and partners and are expected to be generally available by the end of 2005.
"Many Fortune 500 companies have yet to realize the benefits of RFID," said Steve Banker, service director, supply chain management, ARC Advisory Group. "These companies are searching for additional savings to offset the costs of compliance. One promising area, spearheaded by TrueDemand Software, is better demand forecasting based upon new forms of optimization."
TrueDemand brings together some of the industry`s leading authorities on supply chain applications and RFID with a unique vision for delivering a new class of applications that will turn RFID generated data into actionable information. These applications will transform global supply chains from reactive chains to predictive and intelligent demand driven networks. TrueDemand`s executive management team and advisory board consists of past members of, and contributors to, the MIT Auto-ID Center (now EPCglobal), as well as executives who have defined and executed successful RFID strategies and deployments for the leading providers of supply chain and ERP applications and technologies.
The company is led by CEO Eric Peters, a proven senior executive formerly of supply chain software market leader Manhattan Associates and consulting leader Accenture. Co-founders include supply chain experts Dr. Hau Lee and Raymond Blanchard. Dr. Lee is a professor of management science and engineering at Stanford University`s Graduate School of Business. Raymond Blanchard, TrueDemand`s vice president of business development, was formerly SAP`s Auto-ID business development director for their Manufacturing Business Solutions Group.
"TrueDemand is focused on helping companies realize rapid and early gains from their investment in RFID technology in the supply chain," said Peters. "Companies want RFID to go beyond tactical improvements gained from their initial slap and ship efforts to extracting real value from limited RFID information with business applications that will reduce costs and improve supply chain performance, such as reducing inventory and out-of-stocks. Our suite of RFID applications addresses the issue of providing more insight and intelligence to limited RFID data to deliver tangible gains."
TrueDemand`s predictive solutions will:
* Combine new ePC data with transactional operations data to reduc supply and demand uncertainty;
* Work in combined RFID and non-RFID environments by augmenting today`s
best demand signals, such as POS and logistics data, with RFID events;
* Provide business applications and predictive analytics tools to
proactively address the key sources of out-of-stocks before they occur,
from creating better retail store order forecasts to store execution,
distribution, merchandising and manufacturer collaboration
applications;
* Utilize inventory movement information as advanced demand signals to
provide proactive and actionable intelligence and analytics;
* Provide a single integrated inventory, planning and execution
environment for retailers and manufacturers;
* Enable rapid and accurate responses to unexpected demand or supply
shifts;
* Significantly reduce forecast error, out-of-stocks and safety stock;
and
* Compliment and integrate with existing planning solutions.
"TrueDemand is the answer the marketplace is looking for," said Robin Vasan, managing director of Mayfield. "The RFID market is evolving from slap- and-ship compliance to searching for demonstrable ROI. TrueDemand`s solutions deliver increased profitability through advanced modeling -- this is what the RFID market has been waiting for."
"TrueDemand addresses the biggest obstacle to the fulfillment of the global RFID-EPC vision -- the creation of quantifiable, ROI-producing business value for consumer products manufacturers, retailers and distributors," said Jon Stine, global industry manager, retail-consumer products, Intel Corporation. "We`re pleased to support TrueDemand`s development and go-to- market efforts."
About TrueDemand
TrueDemand Software, a pioneer in the development of RFID-enabled enterprise applications, provides a new class of predictive supply chain solutions that help solve supply chain execution and planning problems to reduce out-of-stocks and excess inventory. By combining RFID-based information with TrueDemand`s business solutions, organizations can better manage the live replenishment of RFID-tagged inventory from production through sale across the supply-and-demand network. As a result, customers can better anticipate and proactively remedy supply chain problems before they occur, gaining greater value from their RFID investments. The TrueDemand team includes RFID innovators and proven supply chain experts instrumental in the advancement of RFID technology and the efforts of the Auto-ID Center, now EPC Global. Headquartered in Los Gatos, California, the company is backed by leading venture capital firms Mayfield and Bay Partners. Visit http://www.tdemand.com/ for more information.
TrueDemand is a trademark of TrueDemand Software, Inc. All other trademarks contained herein are the property of their respective owners.
CONTACT:
Mary Frances Bishop of Lois Paul & Partners
+1-781-782-5780
bishop@lpp.com
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