Rapid supplier onboarding creates a more efficient supply chain operation for leading UK retailer
WATERLOO, Ontario, Aug. 18, 2020 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX, TSX: OTEX) today announced that Co-op Group, a leading UK-based grocery retailer, has automated supplier on-boarding for some of its suppliers with OpenText Trading Grid. This new self-service functionality enables rapid on-boarding, while also allowing suppliers to share real-time information on orders including the sending of Advanced Shipping Notifications (ASNs) to notify Co-op Group of pending deliveries.
"Ease, speed, quality and choice is at the heart of our approach and OpenText Trading Grid has helped to streamline key supply chain processes, reducing administrative burden and improving our ability to more quickly bring new suppliers into our network," said Paul Wilkins, Head of Source to Pay, at Co-op Group. "Additionally, the ability of suppliers to electronically share information on inbound deliveries via an Advanced Shipping Notification allows our distribution centre teams to plan and allocate resources more efficiently, eliminate paper-based communication and ensure improved inventory accuracy – helping to deliver what our customers want, when and where they need it, conveniently."
With OpenText Trading Grid customers can create adaptive supply chain infrastructures that pivot and flex as the market demands. In a global trading ecosystem marked by uncertainty, this ability to quickly locate, introduce, and on-board new partners and suppliers is an important advantage.
Digital supply chain solutions also bring expanded options for notification and messaging – such as Co-op Group's new ASN functionality – that can improve visibility on order timing, status, and complication. Improved visibility helps companies react to disruptions and more effectively deploy resources to address gaps.
"Trading Grid connects customers such as Co-op Group to a powerful global network of over 1.2 million trading partners spanning multiple industries and business types," said Lou Blatt, Senior Vice President and CMO at OpenText. "Instead of setting up and maintaining separate connectors, a single connection to Trading Grid provides instant access to the world's largest commerce platform, rapidly accelerating supplier on-boarding and facilitating the sharing of key data on orders."
Co-op Group employs more than 63,000 people, operates a network of more than 2,600 retail stores, and is committed to creating social value in its communities and operating at the heart of local life.
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Open Text Corporation