Chicago Startup to Use Internet to Tackle the $31 Billion a Year Wasted in the Transportation and Logistics Industry.MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--Jan. 25, 1999-- At a Gathering of Twenty E-Commerce CEO's, NTE (NT Embedded) See Windows XP Embedded. Unveils Plan to Establish Online Marketplace for the 50% of Cargo Transportation Unutilized Today Gregory Rocque, president of the National Transportation Exchange (NTE), unveiled an operational internet site designed to sell Designed to Sell is an HGTV American reality television show hosted by Clive Pearse. The show focuses on the fixing up and renovation of a home that is about to go on the market. It is one half hour long and is produced by Pietown Productions. The show began airing in 2004. the unused trucking volume that comprises half of the industry's available capacity in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Rocque demonstrated the system at the Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. E-Commerce Summit, where twenty e-commerce CEO's gathered in Silicon Valley to review online business models and best practices. Rocque stated that the Internet will evolve into a vastly more efficient enabler of business-to-business e-commerce which will offer increasingly visible and seamless logistics transactions, eliminating as much as $31 billion a year in supply chain inefficiencies. "While the transportation industry is more efficient than it has ever been, logistics experts estimate that in the motor carrier industry alone, capacity still may be under-utilized by as much as 50%," reported Rocque. "With rapidly advancing advancing Web commerce, however, the logistics industry is on the verge On the Verge (or The Geography of Yearning) is a play written by Eric Overmyer. It makes extensive use of esoteric language and pop culture references from the late nineteenth century to 1955. of exciting new developments which will create a virtually seamless shipping environment." "NTE is pioneering the new model of business-to-business e-commerce, in which trusted intermediaries deploy technology to drive efficiency into a supply chain that spans multiple trading partners in an industry," said Ravi Mhatre, a principal of Bessemer Venture Partners, who funded the company. "With the only real-time, internet marketplace for transportation logistics transactions, NTE is in a unique position to lead the next revolution in supply chain management." About the National Transportation Exchange Founded in 1993, NTE functions as an electronic transportation marketplace, similar to NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , which utilizes state-of-the-art Internet technology and software to provide shippers, third party logistics companies and motor carriers a trusted electronic network to eliminate supply chain inefficiencies and improve the productivity and profit margins of its members. NTE's Internet-based software improves shippers' routing performance and efficiency, works in concert with existing Transportation Management Systems, and assists in tracking and billing. In order to provide increased connectivity and integration between motor carriers and shippers, NTE established software alliances with such software companies as McLeod Software, TMW TMW Tomorrow TMW The Mana World (game) TMW Tell Me Why TMW Tactical Missile Wing TMW Too Much Work TMW Ten Most Wanted (TV show) TMW Tamworth, New South Wales, Australia - Tamworth Systems and Innovative Computing. NTE's carrier membership includes contract carrier fleets, dedicated carrier fleets and the private fleets of major corporations. Shipper membership includes all segments of manufacturing. The web site is available at www.nte.net. About Bessemer Venture Partners Bessemer Venture Partners invests on behalf of Bessemer Securities from its offices in Menlo Park, Boston and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Since 1911, Bessemer entities have invested in early-stage companies like Ciena, Cascade, Staples, and Parametric. Recent investments include leading Internet companies such as PSI-Net, VeriSign, Mindspring, Verio, eToys, and Flycast. A complete list of the firm's sixteen e-commerce investments is available at www.bvp.com. |
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