16 April, 2010
IFS launches Trade Management 2.0 for increased competiveness in global supply chain operations
IFS today announces the availability of its latest supply chain software, Trade Management 2.0. The solution is designed to give IFS’ customers with multi-country business supply chains improved functionality and control—helping them cut costs, embrace flexible business models, adhere to industry standards and compete across global markets.
The presence of Internet-based commerce and procurement has created a highly transparent and competitive trading environment. Organizations’ supply chains across the world are under the spotlight and are constantly scrutinized to ensure they compete on a global level. In addition, globalization means that businesses focused on supply chain are operating in a far more complex marketplace, handling more sub-contracts and outsourcing contracts, transacting across a wider variety of channels and delivering to an increasingly diverse and international customer base.
IFS has created Trade Management 2.0 specifically to improve supply chain transparency and increase responsiveness and efficiency in order to help businesses offer the most competitive service to their customers.
Thomas Petersson, Senior Vice President at IFS, comments, “IFS works closely with many companies with large supply chain operations and has witnessed a market shift toward more complex and international transactions across multiple channels. Because of globalization, competition now lies between supply chains, rather than individual companies. Trade Management 2.0 has been developed specifically to enable our customers to respond to these new market challenges and opportunities, making business processes involving supply chains transparent, flexible and cost efficient.”
IFS worked with a number of its existing customers in the development of the new solution, ensuring it answers all the requirements needed to increase customer service and supply chain efficiency.
IFS customer Moelven, one of Scandinavia’s leading suppliers of building products, has been using Trade Management 1.0 to manage the business processes of its supply chain. Steinar Hovland, IT Director at Moelven, comments, “We have seen our supply chain become increasingly international, including more channels than ever. Our existing IFS Trade Management solution has been an essential tool in managing the process so far, helping us to accurately track each area of the supply chain. In today’s increasing globalized market, we felt it was important to work closely with IFS to develop a new Trade Management solution that will help to reduce administration, decrease costs and provide more accuracy throughout the sales process. Trade Management 2.0 has been created to streamline operations, offer enhanced customer services and ensure adherence to the local industry standards of the countries in which businesses operate in.”
IFS Trade Management 2.0 offers customers:
- Powerful and advanced pricing options on customer orders, such as campaign management, sales promotions, rebates and group-based pricing. Users can maintain long-term customer relationships by using rebates to reward loyal customers with a periodic payback as well as drive and control sales using campaigns and promotions.
- Extended handling of charges for sales and procurement to enable more flexible and transparent handling of additional charges related to purchase orders and customer orders. Increased warehousing and outbound delivery functionality, designed to improve operational efficiency and accuracy, enabling businesses to prioritize customers or orders in the event of stock changes or shortages.
- Support for global data and supply-chain standards, such as GS1 (Global Standard 1), GTIN (Global Trade Item Number) and SSCC (Serial Shipment Container Code). Standards can be traced and implemented across the supply chain, from sales, procurement to logistics, as well as through inbound and outbound EDI (Electronic Data Interchange) messages.
Trade Management 2.0 is available as an add-on to IFS Applications 7.5 SP5 from March 19 2010
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a fully-integrated, component-based extended ERP suite built on SOA technology. IFS focuses on companies where one or several of four core processes are strategic: service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in more than 50 countries with 2,700 employees in total. Net revenue in 2009 was SKr 2.6 billion.