Andersen Consulting, management and technology consultancy, and Syncra Systems, provider of business-to-business (B2B) supply chain collaboration solutions, have announced a strategic alliance.
This alliance will help retailers and manufacturers in trading networks to share information to reduce inventory, improve service levels and increase sales within 100 days, less than half the time needed to establish previous supply chain management solutions.
Trading partners’ ability to share forecasts is fast becoming a competitive advantage. For example, research has shown that shoppers in a grocery store refuse to buy an alternative product 34 per cent of the time if their first choice isn’t in stock. This results in an industry-wide loss of over three per cent – a cost of between $7 and $12 billion dollars annually.
To help eliminate this scenario, Andersen and Syncra have developed strategies to increase collaborative planning, forecasting and replenishment (CPFR©) abilities. CPFR is a 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.
Andersen Consulting 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 compliant with the CPFR guidelines.
“Andersen Consulting 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. “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 enables us to help our clients to unlock and realize this value quickly,” said Jeff Smith, partner, Andersen Consulting.
Andersen Consulting is an $8.9 billion global management and technology consulting organization. The firm works with clients from a wide range of industries, aligning their people, processes and technology with their strategy. Andersen has approximately 65,000 people in 48 countries.
Syncra Systems, has offices in Cambridge, Mass., Chicago, Ill., and London, UK. Participating with Syncra in the development of the CPFR guidelines are organizations, including: Eastman Kodak, Federated Department Stores, JC Penney, Kimberly-Clark, Kmart, Nabisco, NCR, Procter & Gamble and Warner Lambert.