Thrive Technologies increases inventory profitability for wholesale distributors and retailers with its award winning cloud based demand forecasting, inventory replenishment, and inventory optimization software and services. Thrive’s systems provide industry leading accuracy of projected demand at the SKU and aggregate levels plus precise control over inventory levels with an automated alignment to strategic supply chain goals.
All inventory decisions for wholesalers and retailers begin with some estimation of future sales (ie. forecast). Improving the accuracy of that forecast has a direct and significant impact on inventory profitability. Inaccurate forecasts have a heavy cost in lost sales, excessive stock, and bad decisions based on faulty estimates of future demand.
Read more…(goes to Forecast Accuracy Metrics)
You actually ‘engineer’ your supply chain plan in Thrive. It identifies gaps you may have to improve to achieve your goals. It uses this plan to calculate your tactical inventory buys and stocking levels. With metrics, it shows your progress towards those goals each day.
Read more…(goes to Inventory-performance page)
Historically, one of the biggest challenges facing wholesale / retail companies looking to invest in a system to improve their inventory has been getting a solid return on their investment. And let’s face it, no one in their right mind wants to invest the money and time (and go through the disruption a new system creates) if they are not confident that the return will be well worth the effort.
When Thrive was founded in 2001, we started off as a traditional software license company before we became exclusively a cloud demand forecasting company in 2005. There were several reasons we made this transition but much of it had to do with what we believe are the flaws of the old software license model that made it difficult for companies to get full utilization of their systems thus failing to realize the promised return on investment.
• Software companies have historically sold software licenses which required a large upfront outlay of cash
• These software licenses required the customer to purchase their own server, operating system and database which added to the initial cost; a lot of the responsibility to install and get the application running fell on the (often overburdened) IT department whose domain expertise is typically not in supply chain. Downtime was often created if the IT guys performed some maintenance (eg operating system upgrades) which required a reboot when the supply chain system was running its own jobs. Time to just get the server operational was often at least 30 days slowing down the process.
• The user interface (UI) on many traditional supply chain systems was proprietary, difficult to learn, and required software to be installed on user computers which had to be maintained. With inevitable turnover of the users, new users would need serious retraining with a lengthy learning curve.
• The software vendor was financially incentivized to close out the implementation as soon as possible, moving on to new deals as soon as possible, leaving the customer to work with the software vendor’s technical support team, often having to submit a support ticket and wait for an email or returned phone call
• The software vendor support staff had some level of technical and product knowledge, but lacked domain expertise in inventory buying which made productive communication between tech support and non technical users (trying to explain business process issues) difficult
• Over time, the project lost momentum; users never got full utilization, often reverting to their old way of doing things
• Responsibility and cost for maintenance / upgrades fell to IT, including the maintenance costs for the server. Issues often involved ‘finger pointing’ between client IT and the software vendor.
• Customization was often performed on large installs, making it difficult if not impossible to cleanly upgrade to newer versions of the core system
Sadly, with the exception of newer software companies, many software companies still have this same model today.
Thrive was the first vendor in its space to change its business model in 2005 exclusively to the cloud based model which we feel is far superior in almost every way. We have the most experience in providing a high performance, highly secure cloud based system. The cloud model facilitates a long term mutually beneficial relationship with our clients, much higher utilization of Thrive’s system than the competition, and much quicker reliable return on investment often seen in 90 days or less. Here are the differences with our model:
• Monthly subscription fees reduce the large upfront outlay of capital
• Thrive takes on the cost and maintenance responsibility for server hardware, operating system, database, application upgrades. Since we already have server instances spun up and ready to accept client data, there is no installation time. This speeds up the time which customers receive benefit, and increases ROI.
• Thrive has domain expertise in maintaining its own application as compared to a client's IT staff so we can plan maintenance downtime to minimize disruptions to users.
• Browser based client. Nothing needs to be installed or maintained on the user PC’s.
• Monthly fee arrangement incentivizes Thrive to continue to add value and ensure utilization and benefits from the system
• Thrive implementation and support team are former inventory buyers and/or supply chain consultants, often with MBA’s. Thus they understand more than technical issues, facilitating very productive business discussions with users and client senior management. Thrive Replenishment Consultants work hard to understand client business process issues and goals, resulting in proper configuration of the Thrive application and optimal results.
• Thrive releases a new upgrade quarterly, and performs the testing on each customer instance before rolling it out. Thrive is incentivized to continue to add functionality and continued value, committing 25% of annual revenue to R&D.
• Thrive is the primary support for all issues relating to the Thrive system, simplifying support and unburdening IT with an application they are not familiar with.
• Any new functionality in the Thrive system is included in the core application, ensuring all clients’ upgradeability.
This unique approach has resulted in very high customer satisfaction and impressive results across Thrive's entire customer base. Ask us to speak with any of our customers, and they will be happy to share their experiences with you.
Within a few minutes on the phone, we can answer your questions and discuss how we can help your company
Schedule a 90 minute browser based demonstration at your convenience