FOR IMMEDIATE RELEASE
MeadWestvaco Exceeds Transportation Savings Goals with CombineNet Technology
MeadWestvaco's success with CombineNet Truckload Manager™ has helped them achieve cost savings and increase the efficiency of their transportation network
PITTSBURGH, PA—October 16, 2007
CombineNet, the leading provider of advanced sourcing and optimization technologies, announced today that MeadWestvaco, provider of packaging solutions and products to many of the world's best-known companies, has achieved significant cost savings and efficiencies by sourcing their truckload and intermodal transportation using CombineNet's Truckload Manager. Built on CombineNet's Advanced Sourcing Application Platform (ASAP), Truckload Manager is an advanced sourcing tool that enabled MeadWestvaco to exceed their savings objectives, reduce the number of carriers in their network, negotiate better payment terms, and still meet the unique needs of their individual facilities.
By using the Expressive Commerce™ capabilities of CombineNet's Truckload Manager, MeadWestvaco was able to fully express their requirements, constraints, and preferences to carriers. In response, carriers used CombineNet's Expressive Bidding® tool to provide more flexible bids to best meet MeadWestvaco's objectives for cost savings and improved payment terms. Having the capabilities to fully express their requirements, MeadWestvaco was also able to reduce the number of carriers in their network.
CombineNet's robust optimization technology enabled MeadWestvaco to then analyze the carriers' expressive bids alongside the business requirements and preferences of its 51 facilities. The company used CombineNet's Scenario BuilderSM to sort through millions of scenario options to identify the best possible solution for each facility, while still meeting their corporate goals for cost savings, improved payment terms, and carrier pool reduction.
We found that CombineNet was the only company that could provide the tools needed to support our analysis needs," said Tony Milikin, Vice President, Supply Chain for MeadWestvaco. "CombineNet's self-service Scenario Builder enabled us to make our award decisions faster and more efficiently than any tool we have used in the past, allowing us to exceed our goals."
CombineNet's advanced sourcing technology is the key ingredient that MeadWestvaco was looking for to strategically improve their sourcing efforts." said Tony Bonidy, President and CEO of CombineNet. "No other sourcing technology on the market provides the level of self-service analysis and optimization that is provided by CombineNet ASAP."
CombineNet's advanced sourcing technology helps companies like MeadWestvaco to strike the optimal balance between freight transportation costs and service quality based on their unique needs and business constraints. CombineNet's advanced sourcing technology helps buyers achieve the absolute best value by balancing supplier capabilities, service quality and internal business constraints through an easy to use web-based tool.
About MeadWestvaco
MeadWestvaco is a global packaging company that delivers high-value packaging solutions and products to the world's most recognized companies in the food and beverage, media and entertainment, personal care, home and garden, cosmetic and healthcare industries. The company also has market-leading positions in its Consumer & Office Products, Specialty Chemicals and Specialty Papers businesses. MeadWestvaco, with operations in more than 29 countries, has been selected for the Dow Jones Sustainability Indexes, and manages all of its forestlands in accordance with internationally recognized forest certification standards. For more information, please visit www.meadwestvaco.com.
About CombineNet
CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
Media Contacts:
Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com