Midwestern Retailer Meijer Wins with Prescient in Pilot Program
WEST CHESTER, PA – December 10, 2007 – Prescient Applied Intelligence, Inc. (OTCBB: PPID), a leading provider of supply chain and advanced commerce solutions, today announced availability of Store Level Replenishment (SLR), a solution designed to help suppliers improve their effectiveness at the retail store shelf.
SLR is a key component of the Prescient’s newest software release, Prescient 8.0, which features several major enhancements since Version 7.0 was released in 2006, including improved replenishment responsiveness and a more robust exceptions engine.
This functionality is critical to Prescient’s SLR solution, which enables daily monitoring of store level activities, inventory levels and delivery data; allows effective management of large amounts of data through a powerful exceptions engine; and generates more accurate replenishment orders.
Prescient’s Store Level Replenishment solution consists of three major components: a powerful forecasting engine, an inventory planner, and replenishment ordering logic.
Prescient’s forecasting engine determines future demand, generates base and promotional forecasts, and detects seasonality and trends.
Prescient’s inventory planner calculates perpetual inventory, determines optimal safety stock, and monitors daily activity at the store level.
Prescient’s replenishment ordering logic considers the forecast, inventory levels, and optimal safety stock and automatically calculates accurate order quantities for each item at each store.
SLR Delivers Results
Midwestern retailer Meijer already uses Prescient to power its scan based trading (SBT) program – a commerce model where the supplier maintains ownership of the inventory until it scans out at the point of sale. As part of its SBT program, Meijer will now require suppliers to generate their own replenishment orders. To that end, the retailer has partnered with Prescient in an SLR pilot program with one of Meijer’s major suppliers. Prescient’s on demand solution provides visibility into daily store level product movement and generates orders based on near real-time point-of-sale data.
“The SLR pilot program includes about a dozen stores,” said Tim Cronk, supply chain planner at Meijer. “We are using the pilot phase to set benchmarks and expectations for the 150+ store rollout, currently planned for early 2008.”
“Prescient 8.0 contains exciting enhancements around replenishment and planning, which is why SLR is producing such great results,” said Jane Hoffer, president and CEO of Prescient. “The system identifies real consumer trends, seasonal patterns and promotional lifts, and incorporates those elements into Prescient’s forecasting engine. That information, combined with visibility into on-hand inventory and shelf capacity, is what produces accurate orders and keeps product on the shelves.”
About Prescient Applied Intelligence:
Prescient, founded in 1985 (OTCBB: PPID), is a leading provider of supply chain and advanced commerce solutions for retailers and suppliers. 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, Coors, Domino’s Pizza, Meijer, Rite Aid, Sara Lee, Schwan’s, SUPERVALU, and Wyeth 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,” “if”, “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to Prescient Applied Intelligence, Inc. are intended to identify such forward-looking statements. Prescient 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.
Press Contact:
Betsy Hargus
Prescient
610-719-1600 x 304
bhargus@prescient.com
Kristin Larson
Jack Horner Communications
610-768-3704
kristinl@jackhorner.com
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