Newly launched TrueDemand Software aims to deliver a suite of radio frequency identification applications designed to help retailers and manufacturers derive greater value from data generated by the emerging smart-tag technology.
The Los Gatos, Calif., company, which Monday opened its doors to business, is co-founded by two well-known experts in the RFID sector: Hau Lee, professor of management science and engineering at Stanford University’s Graduate School of Business; and Raymond Blanchard, SAP’s former Auto-ID business development director for its manufacturing business solutions group.
CEO is Eric Peters, a former executive with supply chain software vendor Manhattan Associates. Peters also worked for Accenture, the consulting company.
TrueDemand is developing business applications and predictive analytics tools that it says will, among other things, help companies better monitor their inventory before products run out of stock and make a more accurate forecast of demand.
The software, which is being tested by several companies and is expected to ship later this year, will combine data from RFID tags with data generated with point-of-sale and logistics applications to help retailers and manufacturers make their forecasts. This information, in turn, can be fed into ERP and business analytics systems.
Several big retailers, including Wal-Mart Stores and Germany’s Metro, have required their top suppliers to begin tagging pallets with RFID chips earlier this year.
TrueDemand is backed by $6 million in funding from Mayfield and Bay Partners.
Copyright © 2005 IDG Communications, Inc.