MARIETTA, GEORGIA, USA, January 18, 2023 /EINPresswire.com/ — Thrive Technologies, the leading provider of digital supply chain planning solutions, has announced that Eastern Industrial Supplies, Inc. is the latest company to leverage its cutting-edge digital technologies. The Greenville, S.C.-based distributor of pipes, valves, fittings, and plumbing supplies has partnered with Thrive to automatically identify excess stock across its 18 branches that can be moved to a selling branch before it becomes dead stock.
Eastern Industrial Supplies is utilizing Thrive’s Thermostock® Rebalance digital solution to identify overstocked or dead stock SKUs in all locations, and based on pre-established prioritization, automatically suggest sending that inventory to another location that can likely sell all the overstock. With two distribution centers, 18 branches, and 450,000 total SKUs, Eastern Industrial is confident that Thrive’s technology will recommend smart inventory moves that will reduce overstock across all locations and improve their bottom line.
“Eastern Industrial is a great example of a large distribution operation that can become easily overburdened with excess inventory considering the vast number of unpredictably selling SKU’s they must stock,” said Rick Morris, Thrive’s CEO. “As with most wholesalers, they have a large investment in inventory that sells a couple times a year. Buying systems like those in the ERP systems do not manage low selling SKU’s very well. Our Thermostock Rebalance solution will help them seamlessly move that inventory around so it can be sold. This prevents the all-too-common scenario of buying more from the vendor for the selling branches while other branches have overstock that will ultimately become unsellable.”
Thrive’s digital supply chain planning solution works directly with Eastern Industrial’s existing Epicor Eclipse ERP system, so the company does not have to implement new software. Eastern’s buyers will continue to operate as usual without having to learn a new buying system. Thermostock® Rebalance will complement Eclipse, sending recommendations back to the system for strategic inventory moves among its various locations.
“While we’re still in the early stages of implementing Thrive’s Thermostock® Rebalance technology, we’re confident it will deliver on expectations and have a significant impact on our dead stock,” said Eastern Industrial Vice President of Procurement John Snover. “It’s been an incredibly easy onboarding process, with no disruption to our buyers and no expensive software implementation needed.”
Learn more about Thrive Technologies and its various supply chain planning solutions at https://www.thrivetech.com.
About Thrive Technologies
Thrive Technologies is committed to solving supply chain planning issues for inventory-intensive companies without requiring expensive risky software implementations. Thrive has developed patent-pending technologies that leverage machine learning to analyze billions of rows of inventory data to prevent up to 90 percent of the accumulation of dead stock and reduce lost sales by at least 50 percent. Thrive’s inventory solutions are live within days, integrate closely with clients’ ERP systems, and provide unprecedented agility in managing unpredictability and change in demand and supply chains.
For more information, please visit Thrive Technologies at www.thrivetech.com or follow them on LinkedIn, Facebook or Twitter through the links below.