Southfield, MI April 1, 2002 Software company SupplySolution took a step into the European market with the opening last week of an affiliate office in Germany.
SupplySolution GmbH, has set up shop in Stuttgart. Chris Moritz, SupplySolution's CEO, will serve as acting European operations officer, and Eric Noelke, director of business development for Europe, will handle the day-to-day operations of the new office.
The company, known primarily for its supply chain execution applications for the automotive industry, recently raised $28.5 million in expansion funding, and it says a portion of the new funds will be used for European business development.
"SupplySolution has been serving the European market for the past year," said Moritz, who was named an iSource Business' supply chain "Pro to Know" for 2002 (see story http://www.isourceonline.com/article.asp?article_id=2268). "By establishing an office in Germany we will be better positioned to support Covisint's European outreach and expand our services into other manufacturing markets, including electrical components and systems, as well as industrial manufacturing."
According to AMR Research's European Applications Market, 2000-2005 report, total revenue for supply chain management in Europe is forecasted to reach $6.2 billion by 2005, a compound annual growth rate of 38 percent over the five years.
SupplySolution says its software is currently in use within more than 2,000 manufacturing organizations, including 38 percent of the top 150 North American automotive suppliers. i-Supply has been the exclusive fulfillment application available through auto industry-sponsored e-marketplace Covisint since March 2001.
In a statement from SupplySolution, Covisint welcomed the new office. "We are pleased to see our fulfillment partner, SupplySolution, establishing a presence in Europe," said Lars Olrik, managing director Covisint Europe B.V. Olrik predicted that the new office would help accelerate adoption of Covisint's fulfillment application.
SupplySolution has technology headquarters in Santa Barbara, Calif., with sales and service headquarters in Southfield, Mich.