Honda Express Licenses SynQuest Supply Chain Planning Software
ATLANTA & EAST LIBERTY, Ohio--Nov. 27, 2001--One World Logistics of America, a Subsidiary of Honda Express, Selects
SynQuest Solutions to Reduce Inbound and Outbound Logistics Costs
While Optimizing Service
SynQuest, Inc. and Honda Express, Co., LTD today announced that One World Logistics of America, a logistics subsidiary of Honda Express Co., LTD, has licensed SynQuest supply chain planning solutions to reduce inbound logistics costs associated with the delivery of materials to assembly operations and outbound logistics costs associated with finished vehicle scheduling. SynQuest was selected based upon the results of a pilot of the software conducted earlier this year that exceeded One World Logistics of America's expectations.
"SynQuest has shown us a new way to optimize our customer's logistics network for the lowest total delivered cost," said Yoshi Ohara, senior managing director at Honda Express and president at One World Logistics of America. "For the first time, we can quickly and completely model complex inbound networks, which includes balancing transportation, inventory, plants, suppliers and returnable containers costs, while respecting the constraints we encounter in the real world of global logistics. The comprehensiveness of the model, combined with SynQuest software's profit-and-loss driven optimization technology, has shown us savings that we believed were not achievable in the past. Honda Express and its subsidiaries intend to support its customer worldwide with this dynamic suite of logistic solutions."
One World Logistics of America will initially use SynQuest inbound logistics planning software to evaluate its customer's North American inbound distribution networks to determine delivery routes and frequency of deliveries. With the SynQuest software, One World Logistics of America can quickly deliver logistics plans for every inbound part at the lowest total delivered cost. The software considers the constraints of the automobile assembly plants and determines how to combine supplier deliveries via various transportation schemes to significantly reduce the number of trips and total miles required to deliver materials to automobile assembly plants.
"SynQuest's supply chain planning solutions and automotive domain expertise allow us to provide significant value to our customer," said Albert Wittkopp, vice president at One World Logistics of America. "There is great complexity in a multi-divisional automotive assembly operation. During our pilot study of inbound logistics, SynQuest, in just eight weeks, was able to show us better results than we could have accomplished in 40 weeks on our own. We can now quickly react to the automotive assembly environment's rapidly changing requirements. Similarly, with SynQuest's finished vehicle scheduling solution, we now have the capability to determine the most rapid, cost-effective plan for movement of finished vehicles from our customer's assembly plants to its dealers."
"Selection by Honda Express and its affiliate affirms the kind of value that we can deliver to automotive companies," said Tim Harvey, president of SynQuest. "Honda Express is at the forefront of understanding how supply chain planning applications can reduce logistics costs from product design through vehicle delivery. Our solutions give the company the ability to deliver superior results to its customer by providing a plan for every part and delivering those parts for the lowest total cost. The speed at which Honda Express can now produce new logistics plans ensures that it can react to the constantly changing demands of the automotive market."
About SynQuest
SynQuest, Inc. specializes in providing supply chain planning software to maximize profit and optimize service for companies with complex logistics networks. SynQuest software uses financially focused technology to solve specific supply chain problems for target markets including automotive, consumer durable and industrial manufacturers. The company's supply chain planning solutions feature rapid implementation for a fast, compelling return on investment. For more information, call 1-800-844-3228 or visit www.synquest.com.
About One World Logistics
One World Logistics of America, Inc., a wholly owned subsidiary of Honda Express Co. LTD provides logistics planning, integration, and management services.
SynQuest is a registered trademark of SynQuest, Inc., Atlanta, Ga.
This press release contains statements, estimates or projections, not historical in nature, including statements with respect to plans, projections or future performance of SynQuest and further versions of SynQuest supply chain planning solutions, that may constitute "forward-looking statements" as defined under U.S. federal securities laws. These statements, which speak only as of the date given, are subject to certain risks and uncertainties that could cause actual results to differ materially from SynQuest's historical experience and our present expectations or projections. These risks include, but are not limited to, risks associated with product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, product development, commercialization and technological difficulties and other uncertainties detailed in SynQuest's filings with the Securities and Exchange Commission (the "SEC"), including our Annual Report on Form 10-K for the fiscal year ended June 30, 2001. SynQuest undertakes no obligation to publicly update or revise any forward-looking statements.