Thrive Technologies Named to Coveted ‘Top 10’ List for Supply Chain Innovation
The annual list is created to encourage companies to embrace new supply chain trends and innovations that will define the future of their businesses — with Thrive Technologies rising to the top as a proven AI solution that optimizes existing ERP systems to solve a multitude of inventory issues.
For decades, wholesale distributors have struggled with inventory optimization due to shortcomings in their ERP systems and third-party supply chain planning systems, leading to inadequate fill rates and turns on parts, stockouts and lost sales on high-volume items, excessive dead stock, inventory imbalances across locations, and more.
To help combat these issues, Thrive has spent the past few years developing patent-pending AI technologies — Thermostock® and Tiltmeter® — that work with existing ERP systems to optimize inventory without a large and risky enterprise software implementation.
The results have been a game-changer for Thrive’s clients to say the least. For example, clients are experiencing reduction in dead stock as much as a 78.5 percent reduction in 12 months while simultaneously attaining improvements in parts fill rates by 8 points. These results come from analyzing more than 27 billion total monthly data records per client and sending recommendations back to their ERP systems for more data-informed decision-making.
“We’re thrilled that our efforts on behalf of clients and the supply chain industry as a whole are being recognized with this ‘Top 10’ recognition,” said Thrive Technologies CEO Rick Morris. “It’s been our goal to help wholesale distributors better leverage their existing ERP systems instead of investing in expensive, risky software implementations that are unlikely to produce the desired results. Our ERP optimizers are not only making the inventory management process more efficient, but also significantly improving the bottom line for our clients.”
Additional information about Thrive Technologies, including its entire portfolio of proven supply chain technologies, can be found online at https://www.thrivetech.com. Additional information about Thrive’s latest honor can also be found online at Industry Tech Insights.
About Thrive Technologies
Thrive Technologies is committed to solving supply chain planning issues for inventory-intensive companies without requiring expensive risky software implementations. Thrive has developed patent-pending technologies that leverage AI to analyze billions of rows of inventory data to prevent up to 90 percent of the accumulation of dead stock, increase parts fill rates by 8 percent, and reduce lost sales by at least 50 percent. Thrive’s inventory solutions are live within days, integrate closely with clients’ ERP systems, and provide unprecedented agility in managing unpredictability and change in demand and supply chains.
For more information, please visit Thrive Technologies at www.thrivetech.com.
Mike Waterloo
Thrive Technologies
+1 770-222-8599
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Distribution channels: Automotive Industry, Consumer Goods, Food & Beverage Industry, Manufacturing, Shipping, Storage & Logistics
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