This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

MSC Strikes Gold With Ariba

Today’s customer is more connected, mobile and empowered than ever. And it’s no longer good enough to simply meet their needs. Companies that want to get and stay ahead of the competition have to predict and deliver on them before they arise. This is exactly what MSC Industrial Supply Co., leading distributor of Metalworking and Maintenance, Repair and Operations (“MRO”) solutions, services and supplies to North American manufacturers, is doing with the help of Ariba, an SAP Company.

More than a decade ago, MSC joined the Ariba® Network to provide its customers with a fast and efficient way to find and get the products they needed. Today, the company is mining the intelligence of the community to fuel innovation that gives them an advantage. In a newly released podcast, CEO Erik Gershwind discusses the results.

“The key to achieving more efficiency and quicker time to market is flexibility and speed on the part of suppliers, and business networks are at the heart of this,” Gershwind said during “Modern Supply Chains — How Leading Companies are Engaging Customers in Entirely New Ways,” a newly released podcast on BriefingsDirect, an IT news and trends discussion forum.

An early adopter of networks, MSC recognized that it could gain new insights by being connected to a community of its partners and peers. Through the Ariba Network, MSC has access to more than 15 years of detailed transaction and relationship data. And the company is making the most of it.

“We always did a fairly decent job of mining our own data for supply chain improvements, forecasting, and understanding what to purchase,” Gershwind said. “Now we’re using it to help our customers, and even our suppliers run their businesses better.”

For instance, when MSC learned that employees at one of its customers’ locations had to walk a mile to get to a centralized storeroom where supply replacements were housed, it suggested they install vending machines to put inventory closer to where the work was being done. “In doing so, they are saving time and translating that into real dollar savings,” Gershwind said.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs