Best-of-Breed Approach Offers a New View of the Supply Chain in 100 Days
Chicago, IL - April 17, 2000 -- Accenture, a leading global management and technology consultancy, and Syncra Systems, a leading provider of business-to-business (B2B) supply chain collaboration solutions, today announced at Retail Systems 2000, a strategic teaming alliance to help the consumer products and packaged goods industry unlock efficiencies in the traditional supply chain.
This teaming alliance will enable retailers and manufacturers participating in collaborative trading networks to track and share sales and order-related information as well as align supply with demand to reduce inventory, improve service levels and increase sales. By providing visibility among trading partners, a new view of the supply chain is possible. The combination of Accenture’s strategic management and technology consulting skills with Syncra Systems’ open, Internet-based supply chain solution can produce results within 100 days, less than half the time necessary to establish the previous generation of supply chain management solutions.
Trading partners’ ability to share forecasts and anticipate demand is fast becoming a competitive advantage. For example, Accenture research has shown that shoppers in a grocery store refuse to buy an alternative product 34 percent of the time if their first choice isn’t in stock. This results in an industry-wide sales loss of more than three percent - a cost of between $7 and $12 billion dollars annually.
To help eliminate this scenario in the future, Accenture and Syncra Systems have jointly developed business strategies and implementation processes aimed at increasing consumer product retailers and manufacturers’ Collaborative Planning, Forecasting and Replenishment (CPFR©) abilities by building close working relationships. CPFR is a strategic cross-industry initiative designed to improve the supplier/retailer partnership through co-managed planning processes and shared information. Developed by the Voluntary Interindustry Commerce Standards (VICS) Association, the CPFR guidelines define processes and best practices for establishing and implementing collaborative relationships among trading partners. CPFR represents the next logical step in the development of highly efficient collaborative trading networks.
As part of Syncra Systems recently announced Collaboration Alliance Program, Accenture will provide strategic direction, implementation and management for retail, manufacturing, distribution, and logistics services companies choosing Syncra Systems’ supply chain collaborative technology, Syncra Ct(. Syncra Ct is an Internet-based open, vendor-neutral application fully compliant with the CPFR guidelines.
"Accenture is at the forefront of CPFR development for the consumer goods and retail industry, and we’re pleased to work with the firm as our preferred partner," said Chris Sellers, President of Syncra Systems. "Combining Accenture’s comprehensive business integration and eCommerce skills with their deep understanding of our Syncra Ct technology,clients will gain tremendous value from our alliance."
"Efficient supply chain management creates value for customers as well as shareholders in any consumer and packaged goods organization. Our alliance with Syncra Systems enables us to help our clients to unlock and realize this value quickly," said Jeff Smith, partner, Accenture. "The solution is a catalyst for the whole demand and supply chain, helping suppliers, manufacturers, distributors, logistics services providers and retailers collaborate with trading partners to reduce inventory significantly, while simultaneously improving levels of service."
About Syncra Systems
Syncra Systems, Inc (www.syncrasystems.com ), with offices in Cambridge, Mass., Chicago, Ill., and London, U.K., enables supply-chain collaborationvia the industry-standard CPFR guidelines tohelp manufacturers, distributors,logistics services, and retailers collaborate with their trading partners to significantly reduce inventory and improve customer service levels. Since its inception, Syncra Systems has been an active participant in the development of the CPFR guidelines and a member of the VICS committees. Participating with Syncra Systems in the development and refinement of the CPFR guidelines are leading consulting, manufacturing and retailing organizations,including: Accenture, Eastman Kodak, Federated Department Stores, JC Penney, Kimberly-Clark, Kmart, Nabisco, NCR, Procter & Gamble and Warner Lambert.