Trading Partner Connect Helps Distributors Get Rid of Dead Stock; Prophet 21 Internet Trading Network Provides Solution to Costly Problem.Business Editors/Hi-Tech Writers YARDLEY, Pa.--(BUSINESS WIRE)--Nov. 13, 2002 Quality Mill Supply, an Indiana-based MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. distributor, and Action Industrial Supply, a Michigan-based general industrial supplier, have found a solution to the age-old dilemma of how to get rid of costly dead stock: Prophet prophet [Gr.,=foreteller], a religious leader and spokesperson, particularly used in the Bible. The prophets emitted messages from the divine through inspired speech, the interpretation of omens and dreams, and the casting of lots and divination. 21 Trading Partner Connect. Prophet 21 Trading Partner Connect was engineered to streamline the commerce process between distributors, their manufacturers/suppliers, and end-users and it has proven to increase sales and improve customer service while reducing operating costs operating costs npl → gastos mpl operacionales . However, an added bonus of the Internet trading network is its power to drastically reduce the amount of dead stock in distributors' warehouses. "Trading Partner Connect's ability to help distributors with the issue of dead stock came as a pleasant surprise," says Chuck Boyle, Prophet 21 president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "It wasn't until after members had started trading on it that they came to us and said that Trading Partner Connect had the potential to solve this nagging issue. We were more than happy to work with them to develop the functionality." Quality Mill Supply and Action Industrial Supply Recently, Quality Mill Supply received a Trading Partner Connect-generated list of inactive stock items available at deep discounts from other distributors. They found several items they needed - mostly abrasive abrasive, material used to grind, smooth, cut, or polish another substance. Natural abrasives include sand, pumice, corundum, and ground quartz. Carborundum (silicon carbide) and alumina (aluminum oxide) are important synthetically produced abrasives. products - offered by Action Industrial Supply. Earl Hubbard, inventory control manager at Quality Mill Supply, contacted Todd Panici, operations manager See datacenter manager. at Action Industrial Supply, about those products. During their discussion, Panici realized that Quality Mill Supply had several rolls of an abrasive belt needed by one of his customers, a product Action Industrial Supply had recently run out of. As it turned out, those belts happened to be dead stock for Quality Mill Supply. Panici estimates that he saved at least 25 percent on the $2500 purchase, boosting his bottom line. "And, we got one of our customers out of a jam," he adds. The transaction also saved Quality Mill Supply from a trip to the liquidator Liquidator Person appointed by an unsecured creditor in the United Kingdom to oversee the sale of an insolvent firm's assets and the repayment of its debts. . "We would have only gotten five to ten cents Ten Cents has several meanings:
Long Term Results in a Short Time Though Action Industrial Supply is relatively new to Trading Partner Connect, Quality Mill Supply has been a member of the Internet trading network since its inception in April 2001. "Joining Trading Partner Connect has more than paid for itself," Hubbard contends. "We've received a complete return on our investment. Already, we've sold almost $30,000 worth of dead stock on the network and have probably bought more than $20,000 from other distributors. We use it day in and day out Adv. 1. day in and day out - without respite; "he plays chess day in and day out" all the time ." Panici also predicts that Action Industrial Supply's investment in Trading Partner Connect will soon pay off. "I can see our dead inventory dropping by 30 or 40 percent," says Panici, "which is excellent, because in the past it wasn't going anywhere." About Prophet 21 Since 1967, Prophet 21 has been a leader in providing durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. distributors with innovative, adaptive solutions essential for running their businesses. With more than 2,000 customers and 70,000 users conducting over $35 billion in highly complex supply chain transactions annually, Prophet 21 is a true business partner, helping companies of all sizes leverage technologies and maintain a competitive advantage. Through its business technology and services, Prophet 21 seeks to streamline customers' business processes and reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). to maximize profit and growth. Prophet 21 offers enterprise software solutions for Windows and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). . Prophet 21's enterprise software solutions provide organizations with powerful, highly customizable applications designed to improve customer service and maximize their return on investment. In addition, the company offers an Internet trading network that streamlines the commerce process between distributors, their manufacturers/suppliers, and end users. A complete line of professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. backs all Prophet 21 solutions. For more information about Prophet 21, please visit www.p21.com or call 1-800-PROPHET, ext. 3120. Copyright (c) 2002 Prophet 21, Inc. All rights reserved. Prophet 21 and Prophet 21 Acclaim are registered trademarks of Prophet 21, Inc. All other trademarks and registered trademarks are the property of their respective companies. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the Company's filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual events or results may differ materially. Potential risks and uncertainties that could affect the Company's future operating results include, but are not limited to: (i) economic conditions, including economic conditions related to the computer industry; (ii) the availability of components and parts from the Company's vendors at current prices and levels; (iii) the intense competition in the markets for the Company's products and service; (iv) the Company's ability to protect its intellectual property; (v) potential infringement claims against the Company for its software development products; (vi) the Company's ability to obtain customer maintenance contracts at current levels; and (vii) the Company's ability to develop, market, provide, and achieve market acceptance of new service offerings to new and existing clients. |
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