Combining Wahupa's probabilistic multi-echelon inventory optimization and the Kinaxis concurrent planning platform to maximize inventory efficiencies and customer service
OTTAWA, ON, May 9, 2022 /CNW/ - Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, and Wahupa LLC, the company that delivers probabilistic planning solutions, today announced a partnership that combines the resiliency planning of Wahupa and the agility of Kinaxis to take inventory planning to the next level.
The partnership will bring Wahupa's probabilistic multi-echelon inventory optimization (MEIO) to the Kinaxis RapidResponse® platform to help companies maximize service levels and lower costs. The new MEIO application will calculate optimal inventory targets and safety stock settings through market-driven service planning, helping companies reach their strategic, financial, and service goals while removing waste from their supply chain. When combined with Kinaxis what-if scenarios, companies can simulate various strategies, such as network streamlining and portfolio rationalization, to predict outcomes before choosing the optimal approach. The result will be an inventory plan that optimizes across product mix, inventory tiers, and production stages, while considering physical and monetary constraints.
"Traditional approaches to inventory planning assume that everything is known, precise and exact, so any type of volatility can cause chaos. With our probabilistic approach, we help organizations quantify this uncertainty so they can create plans that take into account these variables," said Stefan de Kok, CEO of Wahupa. "Partnering with Kinaxis allows us to realize our mission to minimize waste and margin erosion at a scale that was not possible before."
Wahupa will join the growing Kinaxis ecosystem of Solution Extension Partners. These partners increase the value customers gain from RapidResponse by delivering digital inputs and developing domain-specific applications that leverage the power of concurrent planning and extend the capabilities of the widely-trusted planning platform.
"We believe companies need to better align their supply chain and financial strategies to thrive in the post-pandemic economy," said John Sicard, CEO of Kinaxis. "In times of uncertainty, companies tend to overcorrect and default to carrying more inventory than is actually required, leading to an increase in cost and waste. This partnership with Wahupa will help our clients trade excess inventory for free cash flow without compromising their commitment to service."
Wahupa is a young software company developing probabilistic solutions to supply chain problems. Probabilistic math is the only accurate representation of real-world uncertainty. By correctly modeling the uncertainties and risks that supply chains are rife with Wahupa is able to overcome the dramatic gap between plans on paper and reality once they are enacted that competing offerings all suffer from. Wahupa pursues two sales channels, providing an end-to-end probabilistic supply chain platform to small companies and providing algorithms to software vendors who serve large customers. Kinaxis is our first partner in this second channel. For more information, visit wahupa.com or follow us on LinkedIn.
Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, visit Kinaxis.com or follow us on LinkedIn or Twitter.
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements as to Kinaxis' growth opportunities and the potential benefits of, and demand for, Kinaxis' products and services. These statements are subject to certain assumptions, risks and uncertainties, including our view of the relative position of Kinaxis' products and services compared to competitive offerings in the industry. Readers are cautioned not to place undue reliance on such statements. Kinaxis' actual results, performance, achievements and developments may differ materially from the results, performance, achievements or developments expressed or implied by such statements. Risk factors that may cause the actual results, performance, achievements or developments of Kinaxis to differ materially from the results, performance, achievements or developments expressed or implied by such statements can be found in the public documents filed by Kinaxis with Canadian securities regulatory authorities. Kinaxis assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
SOURCE Kinaxis Inc.