Science & Technology
Science and Technology
Science and Technology
Wed, February 4, 2009
Farley?s & Sathers Candy Company to Use Park City Group VMI Solution to Improve Forecasting and Increase Customer Service
PARK CITY, Utah--([ BUSINESS WIRE ])--Park City Group (OTCBB:[ PCYG ]), who recently acquired Prescient Applied Intelligence, today announced that Farley's & Sathers Candy Company, the fourth largest confections manufacturer in the US, is implementing [ Vendor Managed Inventory ] (VMI). VMI will support a strategic business initiative to improve customer service levels, improve order fill rates, reduce retail out-of-stocks and gain forward looking visibility to consumer demand.
PCG will host the VMI application through their on-demand service offering. The application will generate forecasts for over 500 Farley's & Sathers items while considering consumer demand, upcoming promotions and seasonality - all prominent issues in the candy industry. The PCG VMI solution will monitor inventory levels at over 20 distribution centers and provide reordering logic that generates a replenishment plan to assist in optimizing truck load capacities and reducing logistics expenses for Farley's & Sathers.
"We evaluated several options and considered various solutions prior to building our VMI program, and we ultimately chose PCG because of their VMI domain expertise in the CPG space and their existing relationship with our primary distributor," commented Duane Hurley, VP of Information Services at Farley's & Sathers. "And VMI with this distributor is only the start of our VMI program. We will initially focus our efforts on specific customers, and then expand the program to include additional key trading partners."
Farley's & Sathers will also participate in a [ Supply Chain Profit Link ] (SCPL) Opportunity Assessment, a PCG service designed to identify sales and profit improvement through analysis of SKU mix and promotional optimization while identifying merchandising execution issues that may cause out-of-stocks or distribution voids. SCPL is a service for perishable and non-perishable categories that analyzes retail data and provides specific action steps to improve sales opportunities and cost saving measures not previously recognized by retailers or suppliers.
PCG provides innovative solutions and services to retailers and suppliers that increase sales while simultaneously reducing out of stocks, shrink and inventories. "Farley's & Sathers is one of the first companies to leverage the expanded PCG solutions resulting from the merger of Park City Group and Prescient. Their choice of VMI and SCPL reinforces the great value our customers will see from the Park City Group / Prescient merger, which will provide a complementary, comprehensive and integrated range of offerings to the industry," stated [ Randall K. Fields ], Park City Group CEO.
About Park City Group:
Park City Group is a trusted business solutions and services provider that enable retailers and suppliers to work collaboratively as strategic partners to reduce out-of-stocks, shrink, inventory and labor while improving profits, efficiencies, and customer service. Our innovative solutions provide trading partners a common platform on which they can capture, manage, analyze and share critical data, bringing greater visibility throughout the supply chain, and giving them the power to make better and more informed decisions. For more information, go to [ www.parkcitygroup.com ].
Park City Group recently acquired Prescient Applied Intelligence,[ click here to read more ].
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.
