Inventory purchasing softwareprovider Thrive Technologies recently announced that CODA Resources has adopted the company’s replenishment system. Coda Resources is a trusted American company that has been providing unique contract manufacturing and turnkey supply chain solutions for over sixty years. Their brands include Cambridge, Amran, LDR, and Pipe Décor. Because of their challenges of long lead times, Coda decided to adopt the Thrive replenishment software to better manage changing demand and supply variables.
“Master distributors like Coda typically import their product in bulk from overseas. Unless products are light enough to ship economically via air, you probably get them shipped via boat. This translates into a three to four-month lead time from the time you place a PO until the product is at your warehouse,” explained Thrive Technologies CEO Rick Morris.
The first step for Coda Resource, and other companies that experience long lead times, is to better predict sales several months in advance for each item that is stocked. Since enterprise resource planning (ERP) systems typically only provide a one month forecast, inventory buyers have to maintain spreadsheets where they create these sales predictions themselves for each stocked SKU.
“Since Thrive is predicting sales two years into the future, this helps Coda automate the process of predicting what they will sell in their long lead times,” explained Morris. “Thrive automatically measures the accuracy of these forecasts against actual sales to ensure they stay as accurate as possible. PO’s based on these improved demand forecasts are more accurate, significantly reducing lost sales and increasing turns.”
For more information on Thrive Technologies, call (770) 222-8599 or visit their website at www.thrivetech.com.
About Coda Resources
Coda Resources is a trusted American company that has been providing unique contract manufacturing and turnkey supply chain solutions for over sixty years. Coda is a Contract Manufacturing and Outsourcing Services company headquartered in New York City. The Company has a dozen global facilities and offices, including a product development hub in Shenzhen, China and its own 20 acre, fully enclosed industrial park in Heze, China. Coda offers comprehensive flexible overseas manufacturing, global sourcing, and integrated supply chain management. For more information visit www.codaresources.com.
About Thrive Technologies
Thrive Technologies is a cloud-based, SaaS (Software as a Service) provider of inventory optimization software which increases inventory profitability for multi-location wholesale distributors, master distributors, and retailers. Their award-winning demand forecasting; inventory replenishment; and inventory optimization software and services interface with all ERP systems.
Thrive increases inventory profitability for wholesalers and master distributors in industries such as automotive parts, pipes / valves / fittings (PVF), HVAC, electrical, plumbing, and several other SKU intensive industry segments. Clients include Williams Distributing, Matco-Norca, LDR Industries, S&F Supplies, General Air Service, Virginia ABC Stores, Keystone Automotive, and Fresh Express. For more information, please visit Thrive Technologies at www.thrivetech.com.