Manugistics Group, Inc. (NASDAQ: MANU), a leading global provider of synchronised supply chain management solutions, announced the commercial release of its new, licensable version of the NetWORKS Transport Request For Quotation (RFQ) solution and signed one of the product's first customers.
The new RFQ solution provides clients the ability to own and manage the RFQ process, and adds further flexibility to the currently-available hosted offering. The solution, which reaffirms Manugistics' commitment to Transportation and Logistics, is designed to address current industry challenges. In today's economy and competitive landscape, companies and government agencies do not have months to go through the traditional manual RFQ and evaluation process.
"Manugistics NetWORKS Transport RFQ provides added flexibility to our customers' growing needs," said Lori Mitchell-Keller, Senior Vice President of Global Marketing and Solution Management and leader of Transportation initiatives. "Since demonstrating the new version at our Transportation Summit in November, we have received tremendous interest from prospective customers and are pleased to have already signed our first customer for the new RFQ product innovation."
With the licensed RFQ product, carriers and shippers will have the ability to reduce time and costs associated with the traditional means of procuring carrier capacity and rates; improve asset utilisation; introduce demand forecasting for carriers; ensure carrier compliance as well as provide access to up-to-the-minute pricing information and contingency planning information in case of a natural disaster.
Aligned with the company's synchronised supply chain vision, Manugistics intends to leverage its industry-leading Transportation and Logistics solutions to provide Consumer Goods and Retail customers with end-to-end supply chain visibility and control - order to delivery - to reduce out-of-stock products, enhance customer satisfaction and neutralize the adverse effects of elongated supply chains resulting from offshore manufacturing.
"Manugistics has been a long-standing, leading supplier of transportation and logistics solutions for years," said Manugistics CEO Joe Cowan. "Our renewed vision in this area reinforces our ongoing commitment to Transportation and Logistics clients - both current and future."
Manugistics will also focus on helping customers deal with tightening freight capacity, Hours of Service (HOS) regulations and other government regulations, as well as ever-increasing carrier operating expenses that are driving increased freight costs.