VantagePoint Systems, Inc. (TSX-Venture: VPG), a developer of business management software for the packaging industry, today announced the formation of an RFID Product Group within the Company that will provide software and integration services to enable packaging manufacturers of all types take full advantage of today's rapidly-emerging Radio Frequency Identification (RFID) technologies. Within the product supply chain, RFID technology improves the management of physical inventory through the automatic tracking and tracing of product information that is embedded in individual electronic "tags" that are attached to the goods being managed, or to their packaging. RFID technology has been called the "bar code of the twenty-first century," because it reads and writes information to the RFID tag electronically, not requiring line-of-sight viewing as required with conventional printed bar codes. In addition, RFID technology allows the reading and writing of multiple items simultaneously, opening up dramatic possibilities for improving speed and accuracy of product identification and handling. RFID tagging of goods at the case and pallet level within the supply chain has been recently touted by major distributors and retailers such as Wal(*)Mart, Target, and Sears as a means to dramatically reduce the cost of inventory management within the product supply chain.
VantagePoint's RFID Product Group will focus on delivering state-of-the- art RFID-based system solutions to packaging manufacturers enabling them to improve internal operations in the factory and warehouse, as well as helping the packaging manufacturers' customers improve supply chain efficiencies through RFID-enabled packaging.
"There have been tremendous advances in RFID technology recently, with much focus on the tags themselves, and the supporting electronics," said Jim Hennings, president and CEO of VantagePoint, "But as these core RFID technologies become commercially viable, the real value of RFID is delivered through integrated business software solutions that track and trace real-time events, and uses this information to improve business operations and intelligence," continued Hennings. "VantagePoint's customers, the packaging manufacturers themselves, are the first link in the product supply chain.
VantagePoint's customers supply packaging to all the major consumer product companies, including every one of the so-called "Wal(*)Mart 100," stated Hennings. "There is a pressing need for packaging suppliers and their customers to fulfill the requirements set by Wal(*)Mart to have pallet-level and shipping case-level RFID tagging in place and functioning by January 2005.
Our new RFID Product Group will help both our packaging manufacturing customers as well as their key customers meet these mandated requirements, and become leaders in providing RFID-enabled packaging in the future."
In addition to providing solutions for creating RFID-enabled packaging that is tracked throughout the supply chain, VantagePoint announced that it will be enhancing its own Business VantagePoint(TM) software product line to incorporate RFID capabilities that are compatible with the newly adopted EPC (Electronic Product Code) Global standards. Among other benefits, this will enable packaging makers using Business VantagePoint to manage their own raw materials and finished good production much more effectively within their plants and warehouses.
About VantagePoint Systems, Inc.
VantagePoint develops business software solutions and provides advisory services specifically for multi-plant packaging manufacturing companies. Since 1992, VantagePoint professionals have made packaging businesses worldwide more competitive by providing solutions that maximize plant and worker efficiency, increase customer satisfaction, and improve profitability. VantagePoint's core business solutions, Business VantagePoint(TM) for Corrugated Packaging and Business VantagePoint(TM) for Retail Packaging operate in over 150 packaging plants throughout North America. Key customers include Menasha Packaging Company, Georgia Pacific Corp., Longview Fibre Company, International Paper, Columbus Container Inc., Smurfit-Stone, and Alliance Packaging. VantagePoint trades on the TSX Venture Exchange under the symbol VPG. For more information, please visit www.vpgroup.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. (C) 2004 VantagePoint Systems, Inc. All Rights Reserved., Business VantagePoint is a trademark /or registered trademarks of VantagePoint Systems, Inc. All other trademarks are trademarks and/or registered trademarks of their respective owners.
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