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EMPTORIS
CEO FEATURED SPEAKER AT PRESTIGIOUS
INFORMS CONFERENCE
Avner
Schneur Highlights the Benefits of Using Optimization Technology
For Online Strategic Sourcing
Burlington,
Mass., June 14, 2001-- Emptoris, Inc., a leading developer of
Web-based collaborative strategic sourcing solutions, today announced
that its president and CEO, Avner Schneur, was a featured speaker
at the recent "Optimizing the Extended Enterprise in the New
Economy" conference sponsored by The Institute for Operations
Research and the Management Sciences (INFORMS®). INFORMS is
an international scientific society with over 10,000 members, including
Nobel Prize laureates, dedicated to applying scientific methods
to help improve decision-making, management, and operations. Members
of INFORMS work in business, government, and academia. They are
represented in fields as diverse as airlines, health care, law enforcement,
the military, the stock market, and telecommunications.
In
an address entitled, "Dynamic E-commerce: Leveraging Optimization
to Power Digital Marketplaces and E-procurement," Schneur
detailed the challenges faced by today's purchasing executives
and explained why optimization technology is the best fit for
solving complex procurement problems. In his presentation, Schneur
cited the following key benefits of using an optimization-based,
online strategic sourcing solution:
- Use
of scientific algorithms lead to better, faster online purchasing
decisions
- Adds
5%-15% cost savings not possible with spreadsheets and ranking
systems
- Quantifies
the "cost" of purchasing policies, as well as trade-off
between savings from volume discounts and additional inventory
holding costs
- Provides
"what-if" scenario analysis allowing buyers to determine
absolute best decision
- Meets
needs unfulfilled by reverse auctions (such as considering non-price
factors)
- Improves
buyer/supplier collaboration by extending new levels of flexibility
for buyers to
- Communicate
their needs and for suppliers to customize their responses
- Enables
suppliers to submit multiple bid types within the same RFQ that
protect their profit margins while offering buyers better pricing
than single item bids
- Allows
buyers to collaborate with other buyers in multiple locations
to aggregate demand; and Tier 1 suppliers to collaborate with
tier 2, 3, 4 suppliers to submit the most competitive bids
"In order to best serve our conference attendees, it is critical
that INFORMS offer conference speakers with real operations research
expertise in their respected areas," said James Bean, president
of INFORMS. "Avner Schneur and other industry speakers provided
current information and examples on operations research in practice.
The professionals that attended the conference gave high marks
to this kind of real-world look at applications, case studies
and best practices."
Emptoris'
Optimization-based E-sourcing Solution
By implementing Emptoris' ePASS, multiple purchasing organizations
across an enterprise can efficiently aggregate and disseminate
their sourcing needs to their primary suppliers. Using ePASS'
collaborative sourcing capabilities, primary suppliers can interact
with other suppliers to quickly respond to the buyers' overall
demand. Through ePASS' optimization-based decision support technology,
buyers can quickly analyze all purchasing scenarios through scientific
algorithms to come to the optimal supply base allocation. Combining
advanced collaboration, sourcing event management and decision
support capabilities, ePASS enables enterprises to streamline
the strategic sourcing process, determine the optimal supply base
allocation, and forge tighter buyer/supplier networks, allowing
buyers to lower the total cost of ownership while enabling suppliers
to differentiate themselves through product criteria, historical
performance and flexible pricing structures.
"Optimization
has been used to solve complex business problems for many years
across many different industries," said Avner Schneur, president
and CEO of Emptoris. "As the first software developer to
incorporate optimization into the e-procurement process, Emptoris
is redefining how goods and services are purchased online. The
invitation from a well-respected organization such as INFORMS
for Emptoris to present on this topic validates the importance
of optimization in e-procurement."
About
Emptoris, Inc.
Emptoris is a leading provider of collaborative strategic sourcing
solutions that support the end-to-end sourcing activities of multi-tier
buyer/supplier networks. By implementing ePASS™ (Electronic
Procurement Application for Strategic Sourcing), enterprises can
streamline the strategic sourcing process, determine the optimal
allocation of business among suppliers, and forge tighter buyer/supplier
networks. Through a functionally rich sourcing and communications
platform, ePASS facilitates efficient buyer/buyer, buyer/supplier,
and supplier/supplier collaboration. Key benefits include lower
costs, shorter sourcing cycles, and improved sourcing productivity.
Emptoris, a privately held company, is headquartered in Burlington,
Massachusetts.
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