Ryder Issued U.S. Patent for Systems and Methods for Supply Chain Management
Patent Relates to Ryder's Automated Process That Improves Supply Chain Integration and Management of Logistics for Shipment Planning and Execution
MIAMI, FL, Jun 14, 2010 (MARKETWIRE via COMTEX) --Ryder System, Inc. (NYSE: R), a leader in transportation and supply chain management solutions, today announced that it has been awarded a patent from the U.S. Patent Office for its systems and methods that integrate and optimize supply chain performance in the areas of shipment planning and execution.
The newly issued U.S. patent has been assigned the number 7,711,602 and was issued on May 4, 2010. This U.S. patent award provides Ryder with the intellectual property protection related to its Logistics Release process that improves supply chain integration and management of logistics for supply chains.
The key approach to the Logistics Release process is configuring the unique data to create a common, web-native data utility for each stakeholder in the supply chain. The Logistics Release process then creates an optimum shipment that takes into account weight, cube, packaging, stackability, pallet configuration and mode determination. The shipment receives a plan, or "Release" with the logistics information and instructions for that shipment.
The plan is created and initiated prior to the movement of goods and then all events of the subsequent movement are controlled by this plan. Whereas the physical movement requires cross docks, terminals and sequence centers, the virtual movements are monitored continually by a "Control Tower," or central office from which all movements can be monitored, tracked, and coordinated in real time.
This capability significantly improves transit time and reduces the cost of integrating multiple transportation networks. The technology also includes exception-based reporting, which identifies events that vary from the Logistics Release plan and enables alternative actions and routing, as well as measures the plan's progress against the actual results.
John Williford, Ryder's President of Global Supply Chain Solutions, said, "We are pleased to be granted this patent that benefits all participants in the supply chain. Ryder's Control Tower service helps cut inventory by improving operational execution, and now the business process supporting this service is recognized as unique. We look forward to supporting our customers with Ryder's Logistics Release capabilities."
Ryder's Supply Chain Solutions business offers a broad range of innovative logistics management services that are designed to optimize a customer's supply chain and address key customer business issues. Ryder manages the inbound flow of more than 20 billion parts annually, providing service to more than 47 automotive assembly plants and to a multitude of customers at more than 300 plants. Ryder serves customers in a variety of industries, including automotive, electronics, high-tech, telecommunications, industrial, consumer goods, paper, office equipment, food and beverage and general retail industries. Ryder houses the Company's material flow operations and the Logistics Release process in Novi, Michigan and Nuevo Laredo, Mexico. Together these centers control more than 5,000,000 annual part shipments in North America.
Ryder is a FORTUNE 500(R) commercial transportation, logistics and supply chain management solutions company. Ryder's stock (NYSE: R) is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. Inbound Logistics magazine has recognized Ryder as the top third party logistics provider, and Security magazine has named Ryder the number-one company for security practices in the transportation, logistics, supply chain, and warehousing sector. Ryder is a proud member of the American Red Cross Annual Disaster Giving Program, supporting national and local disaster preparedness and response efforts. For more information on Ryder System, Inc., visit www.ryder.com.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.