CHICAGO, Feb. 14, 2023 (GLOBE NEWSWIRE) -- GAINS, a leading provider of cloud-based solutions for optimizing supply chain performance, announced record results in 2022. Revenue from its award-winning Performance Optimization Platform grew 44 percent with a 115 percent net customer retention rate. The company's growth was fueled by customers affected by increased inventory costs from higher interest rates and volatility in market supply and demand. GAINS added customers of all sizes, ranging from $100 million to more than $20 billion in revenue, including wholesale distribution, discrete manufacturing, supply parts, specialty retail, consumer goods, and metals.
"The results our customers achieved in 2022 are driving our success," said Joe Olson, CEO of GAINS. "Today's inventory-intensive businesses face supply chain complexity, higher on-time service needs, and greater cost concerns. They must optimize their demand, supply, inventory, and replenishment decisions to operate in times of dramatic volatility. The GAINS Performance Optimization Platform helps our customers confidently fulfill their customer promises."
Record Number of Companies Look to GAINS
In 2022, a record number of businesses turned to GAINS to drive growth through better decision-making, optimize their supply chains, and redesign their inventory, supply, and replenishment strategies. In a period of market volatility and excess inventories, outdated policies and broken processes affect companies of all sizes. Poor decisions have increased the financial risk of having inventory in the wrong places while shortages build up elsewhere. The GAINS platform allows companies to confidently support their customers' needs by delivering the right product, quantity, and location at the right time.
Delivering Unrivaled Customer Success
Industry benchmark studies from the Boston Consulting Group show that 70 percent of data transformation projects fail. These failed deployments have led many businesses to switch to GAINS in 2022. Our 100 percent implementation success rate using the GAINS Proven-Path-to-Performance (P3)SM deployment methodology delivers continuous, incremental value for every customer.
Innovating with New User Design, Machine Learning, and AI
GAINS continued to innovate in the past year, launching an improved user experience with GAINS X at the annual GAINS Summit in September 2022. The new platform better connects supply chain professionals with enhanced design, insightful visual cues, and action-oriented workflows. Delivered in partnership with our customers, this new user experience ensures easier and faster decision-making to keep pace with their ever-evolving business needs.
Our data scientists at GAINS Labs also delivered pragmatic AI and machine learning solutions that solve today's increasingly complex supply chain challenges. These advancements focus on better lead times prediction, long-term demand sensing, geospatial modeling, and automated business processes to improve inventory and supply chain health.
Acting on Sustainability
Sustainable practices are essential to GAINS employees, communities, and customers as they seek business partners who share this commitment and can deliver measurable impact. GAINS worked with our customers to address environmental and social issues through direct engagements, including ongoing partnerships with Barco's Nightingales and Chicago Public Schools.
Expanding Leadership with Customer Engagement Veterans
GAINS added new leadership to improve customer engagements, expand capabilities, and add diverse supply-chain expertise to guide growth. In 2022, the company welcomed Kay Rindels as Vice President of Marketing, supply-chain industry veteran Jeff Metersky as Vice President of Solution Strategy, and Jason Read as Vice President of Corporate Development.
About GAINS
At GAINS, we help customers keep their promises by democratizing supply chain planning. The GAINS Supply Chain Performance Optimization Platform helps businesses large and small Move Forward FasterSM with greater agility, resilience, confidence, and sustainability. The GAINS AI-driven cloud platform delivers continuous cost and profit optimization via machine learning, proven algorithms, and actionable analytics for global manufacturing, distribution, retail, and service parts/maintenance operations. Innovative design combined with the GAINS Proven-Path-to-Performance (P3)SM methodology enables rapid onboarding, increased sales, inventory turns, and service levels with reduced operating costs. GAINS proudly provides digital supply chain planning expertise to industry leaders like Graybar, Honda Motors, Menards, Rockwell Automation, Stuller, and Textron Aviation. For more information, visit www.gainsystems.com.
GAINS® is a registered trademark, and Move Forward FasterSM, and Proven-Path-to-Performance (P3) SM are service marks of GAINSystems. All rights reserved. Other products mentioned in this document are registered, trademarked, or service marked by their respective owners.
Contact Information:
Jenny Lacey
Marketing Manager
jlacey@gainsystems.com
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