FurnishNet Expands Supply Chain Service with SupplierConnect
Furniture World Magazine
FurnishNet, the leading provider of Internet-based supply chain solutions for home furnishings retailers and manufacturers, announced today an expansion of its transaction exchange service to address electronic connectivity between manufacturers and their suppliers. Called SupplierConnect, this new service targets automating the manual and paperwork intensive processes of manufacturer to supplier ordering, shipment tracking, and invoicing.
"Many home furnishings manufacturers have implemented electronic transaction exchange with their retail clients to drive down costs in the demand chain. But that is only half of the equation," said Ron Sellers, FurnishNet Vice President. "Supplier-side connectivity holds many opportunities to drive additional savings through reduced paperwork, improved speed, and increased order accuracy."
The company estimates that there are over eight million manufacturer purchases being done via fax machine and phone orders currently that can be automated with system to system transaction exchange. "I've seen many estimates that processing a purchase order and its related shipping notices and invoices costs over $100 when done manually," said Sellers.
"Even at half that figure, manufacturers are leaving hundreds of millions of dollars on the table that could be better utilized."
Leveraging FurnishNet's success in connecting retailers with manufacturers, SupplierConnect utilizes proven buyer and seller connectivity. The company processed close to 880,000 retailer to manufacturer purchases in 2005-a 57% increase over the year before. By integrating web applications, electronic data interchange (EDI), XML, and e-mail into a unique "Any-to-Any" exchange, the FurnishNet service is able accommodate the electronic flow of transactions between business partners of any size, running on any corporate system.
"With over 600 manufacturers already connected to FurnishNet, it only makes sense to offer the same benefits of our Transaction Management solution to them and their suppliers," said Ron Sellers, Vice President of Sales for FurnishNet. "Extending the ability to automate business transactions up the supply chain benefits everyone, including the retailers and their customers."
About FurnishNet: Over 730 of the nation's leading retailers and manufacturers are using FurnishNet's electronic transaction exchange solution to streamline their supply chains. For more information or a list of connected manufacturers, please call 1-800-854-2263 ext.2525, or visit www.furnishnet.com and take the Self-Guided Tour.