The SaviTrak intelligence service, which leverages GPS, cellular, electronic security bolts and sensor technologies, is being implemented in an effort to cut the time Transmed holds safety stock, reduce inventory carrying costs, improve product freshness and enable a more agile, responsive supply chain. It is expected the SaviTrak system will also reduce the administrative costs of managing trades, enhances ordering, forecasting, replenishment and customer service.
"The advanced visibility service provided by Savi Networks will help us to gain much better control of both our inventory and shipments, which means we can reduce safety stock and the capital costs that go along with it," said Barry Dixon, Director, Transmed Foods. "We view this as a competitive advantage that will cut costs and improve customer service for all our customers."
"We're pleased to provide Transmed with a 21st century intelligence service that delivers visibility and control of global trade—wirelessly—virtually anywhere, anytime," said Neil Smith, chief executive officer of Savi Networks. "With a single and shared view across the end-to-end supply chain, SaviTrak can dramatically improve performance and efficiency."
It is anticipated that Transmed will utilize SaviTrak to monitor container shipments across multiple transportation modes, such as ocean vessels, truck and rail. SaviTrak also can help expedite the resolution of insurance claims by identifying chain of custody responsibilities in the event of damages or losses of a shipment.
The Web-hosted SaviTrak service will enable Transmed to collaborate in near real-time with customers, carriers and terminal operators on the status of their shipments in order to jointly take quick action on unplanned events, such as delays, misroutes or security breaches. Automated alerts transmit information about events and exceptions. SaviTrak also reduces manual processes such as faxes, phone calls and Electronic Data Interchange (EDI) entries.
About Transmed Foods
Transmed Foods, Inc. is the U.S. distribution arm of the Crespo Group, which is one of the largest manufacturers of quality olive products in the world. The Crespo Group serves both consumer as well as commercial clients on a global basis from their industrial installations located in the principal olive producing countries of Spain and Morocco in the Northern Hemisphere. They also contemplate further expansion of their industrial capacity in upcoming years in olive producing countries of the Southern Hemisphere.
About Savi Networks
Savi Networks was founded to improve the efficiency and security of global trade. SaviTrak is an intelligence service that utilizes reliable wireless shipment monitoring technology to provide shippers, logistics service providers, and terminal operators with easily accessible, precise and actionable information. The information is used to identify both real-time and systemic shipment and inventory issues and then make appropriate decisions. Savi Networks is a joint venture between Lockheed Martin [NYSE: LMT] and Hutchison Port Holdings.