Thrive Technologies, a leading provider of digital inventory buying systems for multi-location wholesalers and distributors, is proud to announce the launch of Enlighten® — a patent pending new digital analysis system that leverages machine learning to identify the specific causes of inventory issues. Analyzing millions of rows of data to “enlighten” distributors, Enlighten reveals the reasons for lost sales and dead stock and pinpoints the specific areas of business contributing to the problem.
“There are two primary inventory issues that every distributor wants to improve, but until now haven’t had a good understanding of the underlying causes — lost sales due to out-of-stock product and stock that doesn’t sell,” said Thrive Technologies CEO Rick Morris. “Enlighten helps distributors discover the root causes of lost sales and dead stock, so they can take action and reclaim the profit they’ve been losing as a result of these complex inventory issues.”
Based on Thrive’s extensive research, the typical distributor loses 5-10 percent of their annual revenue due to not having the right product in the right place when the client wants to buy it. For a $100 million distributor, that means a revenue loss of $5-10 million annually. In addition, Thrive’s analysis shows that 7-20 percent of a typical distributor’s inventory investment is overstock (defined as more than a year’s supply) that has to be written off or liquidated. Enlighten identifies the causes of both lost sales and dead stock, providing insight on a user-friendly dashboard and allowing distributors to drill down to the specific items or vendors that are having issues.
“Distributors in this COVID-disrupted supply chain environment are seeing stockouts due to suppliers taking longer with deliveries or having a limited supply,” said Morris. “However, another cause for their stockouts might actually be buyers waiting for the suggested order to be at or above the vendor minimum for free freight. Enlighten can help identify the actual cause of stockouts, allowing distributors to focus on the real issue and make more informed decisions.”
Additional information about Thrive Technologies, including its entire portfolio of proven supply chain solutions, can be found online at https://www.thrivetech.com. Learn more about the patent-pending Enlighten digital analysis system at https://www.thrivetech.com/enlighten.
About Thrive Technologies:
Thrive Technologies provides digital inventory buying systems that reduce lost sales by at least 50 percent and greatly reduce the accumulation of dead stock for multi-location wholesale distributors, master distributors, and retailers. Thrive can interface with all ERP systems, regardless of platform (Windows Server, Linux, iSeries, etc.) including Epicor Eclipse, Prophet21, Infor SXe, JD Edwards, Oracle, Microsoft, Netsuite and homegrown systems.
Thrive’s digital inventory buying systems uniquely leverage machine learning to identify the root causes of lost sales and dead stock, then monitors each individual sales transaction and warehouse receipt to sense changes to demand or supply. Thrive’s system automatically solicits feedback from branch managers and salespeople and vendors to validate if the changes are the new reality and provides this information to the buyers. This provides unprecedented intelligence in buyers’ hands to make them much more efficient and effective. For more information, please visit Thrive Technologies at http://www.thrivetech.com or follow them on LinkedIn, Facebook or Twitter.
Media Contact
Melissa Gray, THRIVE TECHNOLOGIES, INC., +1 845-664-3092, melissa@melissagraypr.com
