Westchester, PA October 30, 2002 Supply chain planning solution provider Prescient Systems and one of its clients, AAi.FosterGrant, were honored this week in Nashville at the APICS conference for the strength of their partnership and the results that AAi.FosterGrant has achieved through the use of Prescient's software.
In their annual awards programs, both Consumer Goods Technology magazine and APICS, the Educational Society for Resource Management, highlighted AAi.FosterGrant's use of Prescient's technology to drive business benefits.
In addition, Consumer Goods Technology gave AAi.FosterGrant its Technology Leadership Award for its use of Prescient Systems' supply chain planning technology to achieve reductions in inventory, build relationships with retailers and affect its bottom line through demand planning and vendor-managed inventory (VMI) programs.
"AAi.FosterGrant exemplifies a forward-thinking consumer goods manufacturer that has taken an innovative and thoughtful approach to its technology implementation strategy," said Dennis Eskow, editorial director of Consumer Goods Technology. "The company has gone above and beyond in maximizing the value of technology to its organization, thus creating new efficiencies for itself and added value for its retail partners and suppliers."
AAi.FosterGrant said it chose Prescient to develop and deploy a supply chain strategy involving people, process and technology that would drive cash out of its inventory while also supporting corporate growth plans.
Since deploying Prescient's demand planning software, AAi.FosterGrant stated it has realized benefits such as 33 percent lower inventory levels; retail in-stock levels have increased to 98 percent for Wal-Mart and Target; and required warehousing space has been reduced by 40 percent.
"AAi.FosterGrant is honored to have won this prestigious award, particularly because our competition represented so many of our nation's biggest and most reputable consumer goods firms," said Darrin Weigle, vice president of supply chain management for AAi.FosterGrant. "Prescient has armed AAi.FosterGrant with the technology to serve as a cornerstone to our supply chain management strategy a strategy that has not only yielded tremendous return on investment, but one that has helped enable the complete recapitalization of our company."
APICS also honored Prescient and AAi.FosterGrant with its Corporate Award of Excellence for Technology Partnership, which recognizes how a partnership between a technology provider and its client can increase the client's success.