VRSSF - Over 3500 Of World's Largest Retailers To Gain Access To AI-Driven Supply Chain Management Solutions
The past three years all but redefined supply chain priorities. Challenges like continued labor shortages, equipment availability/variability and the shockwaves caused by global bottlenecks have made opex efficiency, adaptability and resilience the newly-minted top priorities for organizations, according to a report by consulting firm Capgemini. It took a global pandemic for people to realize how vital the %GlobalSupplyChain is – essentially the central nervous system of the world economy. Beyond simply making things work, increasing supply chain efficiency is one of the best ways to grow a company’s bottom line.
%BlueYonder , one of the world´s top digital supply chain transformations and omnichannel commerce solutions provider, is familiar with these changes. The company boasts 3,500 major retailers in their client base, distributed across 78 countries. It is the largest warehouse management system (WMS) I the world. BY’s solutions allows their clients to fulfill customer demand in the best way possible from planning through delivery, by “ unifying their data, supply chain and retail commerce operations to unlock new business opportunities and drive automation, control and orchestration to enable more profitable, sustainable business decisions ”.
Blue Yonder’s value prop and expert execution were noticed and appreciated by Panasonic – which resulted in a a $7.1 billion full acquisition by the tech giant .
The large footprint in the logistics industry comes with a wealth of experience – not only making Blue Yonder aware of new trending challenges, but also placing them on the avant-garde when it comes to devising solutions to them. This vanguardism has landed the company in a strategic partnership with Adaptive Intelligence Solutions developer VERSES Technologies Inc ., and their KOSM ecosystem.
Leveraging AI for next-gen logistics
%VERSESTechnologies () () is an innovative AI-driven %SpatialManagementSolutions provider. Their flagship offering is KOSM : a network operating system that aims to give universal context to disparate data, thus facilitating trustworthy collaboration between humans, machines and artificial intelligence.
KOSM leverages adaptive intelligence and spatial twin management applications to create a real-time simulation that allows for better workflow optimization, traceability and intelligent automation. With The flagship application running on the KOSM OS is WAYFINDER, a spatial picking app that boosts warehouse picking efficiency by 35-50%+ by intelligently routing workers or machines better through a warehouse and allowing for dynamic re-slotting of inventory locations.
VERSES was previously awarded a US$26.5M contract over 10 years by NRI, a third-party logistics company with 18 facilities in Canada and the US, and WAYFINDER has now been fully deployed in 15 of those locations. Deploying WAYFINDER effectively doubled NRI’s net margins. WAYFINDER is also currently in several pilots across multiple sectors that could turn into significant multi-year contracts in due course.
Significantly, Blue Yonder is the first major warehouse management system to sign on and begin reselling WAYFINDER to its client base, and sharing the profit with VERSES. With thousands of clients globally, each as big or bigger than NRI on average, the revenue generating potential of this partnership for VERSES could be enormous. Through this partnership , VERSES’ solutions will be available to equip and empower warehouses and distribution centers with retailers of the stature of Walgreens, Nike, Mars Wrigley, Pepsico, Microsoft, Driscoll’s, 3M and more.
Blue Yonder’s director of edge technology Matt Balthasar commented on the partnership as part of a recent press release: "Partnering with Verses provides our customers with an unparalleled view of their physical space and an actionable set of tools to continually improve and refine their operations… This partnership is more than a technical integration, it sets a new standard for the market today and into the future ."
VERSES founder and CEO Gabriel Rene , also shared his thoughts and an overview of the industry at large: "We are very excited to partner with Blue Yonder to resell Verses spatial management applications to their global customer base…Logistics providers and the supply chain at large are looking for advancements in technology that pull spatial, semantic and social data into one location and Verses artificial intelligence technologies provide the necessary foundation for interoperability of theses domains -- connecting the physical and digital worlds in every warehouse, distribution center, port, retail space and beyond."
About VERSES
VERSES Technologies Inc. ( NEO: VERS ; OTCQX:VRSSF) is a leading edge Artificial Intelligence company. The company is developing the KOSM operating system that accelerates next generation application development and deployment for the Internet of Things and %ArtificialIntelligence as a Service by helping manage location-based network level resources on the Spatial Web. It also develops Spatial Web applications built on KOSM.
About Blue Yonder
Blue Yonder is the world leader in digital supply chain transformations and omni-channel commerce fulfillment. Our end-to-end, cognitive business platform enables retailers, manufacturers and logistics providers to best fulfill customer demand from planning through delivery.
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