ATLANTA, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Verusen, a leader in materials intelligence, today announced that it has been named the NextGen Solution Provider Award winner in AI for its work with a Fortune 500 global packaging company.
Verusen will be honored on Tuesday, October 18, during the NextGen Supply Chain Conference being held October 17 – 19, 2022, at the Chicago Athletic Association.
Verusen’s Mary Kate Love, Director, GTM Strategy & Execution, will present the Verusen case study on stage and join a panel discussion on utilizing technologies that will shape tomorrow’s supply chains at the event. Other solution providers and end-user winners will also share how they lead the way on new AI, robotics, analytics, and digital transformation technologies.
The NextGen Awards event panel will be moderated by Abe Eshkenazi, the CEO of the Association for Supply Chain Management. ASCM is the largest supply chain membership organization in the country.
Verusen won the AI Solution Provider award due to the successes it achieved for a Fortune 500 global packaging company that was looking to offset inflation by reducing its inventories. Verusen’s AI platform worked to harmonize their data, creating transparency and integrity across all their catalogs of data. This effort covered over 55 facilities and more than 400,000 individual SKUs.
As a result, the packaging company saved over $6M in their MRO space in less than 24 months. Verusen also identified over $21M of verified cost optimization opportunities and over $200M value of on-hand inventory related to their MRO materials.
“We are thrilled to be recognized by our industry peers as the NextGen Solution Provider in AI,” said Paul Noble, Founder & CEO of Verusen. “Working to solve the global supply chain challenges our customers face is an exciting challenge. Knowing our technology and our teams are helping our customers overcome traditional system, process, and people limitations is super rewarding. We continuously strive to execute sustainable and scalable solutions to help customers optimize working capital and reduce risk across their entire supply network.”
“Verusen has proven to be a leading light in AI for the supply chain industry,” said Bob Trebilcook, editorial director, Supply Chain Management Review. “We are happy that the company will present its case study to the panel. I’m sure it will open many eyes to the potential and promise of artificial intelligence work in the manufacturing industry.”
About Verusen
Verusen is a leading Supply Chain Materials Intelligence provider focused on helping global manufacturers streamline their supply and materials management strategy. Verusen utilizes advanced data science and artificial intelligence to harmonize disparate material data across multiple enterprise systems to provide complex supply chains with material truth for supply and inventory planning and procurement intelligence. This helps organizations reduce risk, optimize working capital, and ensure production uptime to meet customer needs. The result is a foundation that organizations can trust to fuel digital transformation and support supply chain maturity initiatives. Headquartered in Atlanta, Verusen has been named one of Georgia’s Top 10 Innovative Technology Companies. Visit verusen.com for more information, or follow us on Twitter at @Verusen_AI and LinkedIn.
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