SOURCE: GT Nexus

GT Nexus

March 02, 2009 06:30 ET

INVISTA Selects GT Nexus Portal as Global Freight Spend Management Solution

On-Demand System to Automate and Standardize Ocean Transportation Procurement and Rate Management Processes

OAKLAND, CA--(Marketwire - March 2, 2009) - GT Nexus announced today that it has been selected by INVISTA to provide a Web-based global freight spend management platform. INVISTA will use the GT Nexus Portal to procure transport services and manage shipping rates for its global network of ocean carriers. The capabilities available via the platform will allow INVISTA to respond quickly to changing market conditions and ensure the company is deriving maximum value from its global transportation services.

INVISTA is one of the world's largest integrated fibers and polymers companies, with more than 1,000 unique pending or granted U.S. patents and a business presence in over 20 countries. INVISTA is an independently managed, wholly owned subsidiary of Koch Industries, Inc.

"We move thousands of containers every month," said Kevin Steinke, North America Manager of International Commerce at INVISTA. "We needed a proven technology solution to help us capture and manage rates that are constantly changing with the market. GT Nexus combined the right mix of capabilities with a Web-based delivery model that proved to be very compelling for us."

GT Nexus will serve as the central online hub for INVISTA ocean transportation rate information and contract terms. Users access a common standardized database of information through a Web browser. Ocean carriers have secure access to their INVISTA contracts to manage amendments and keep information updated.

"It's extremely challenging and inefficient to rely on spreadsheets and phone calls to run global logistics," added Steinke. "GT Nexus gives us the foundation to become more nimble and strategic."

The system will also support multiple types of procurement scenarios. INVISTA can use GT Nexus for their annual Request for Contract (RFC) process, but can also use the tool to run occasional spot bids to maximize value as market conditions evolve. The contract information will help ensure that INVISTA's Freight Forwarders execute based on allocation plans.

"We welcome INVISTA to the community of large shippers on our portal," said Greg Johnsen, EVP of marketing at GT Nexus. "The industry leaders are all reaping the rewards of having an automated freight contracting solution to manage fluctuating costs. INVISTA is now poised to take its global logistics operation to the next level."

GT Nexus delivers its capabilities on-demand, over the Internet as a pay-as-you-go service. This eliminates the need to buy, install and configure complex software. This approach is extremely important due to the collaborative nature of managing huge transportation contracts with carriers. Today, more than 70 ocean carriers use GT Nexus to support multiple large shipper customers with bids and contracts.

The INVISTA platform can also serve as the foundation for extending into other areas of business process management. The rate hub can be used for freight spend allocation optimization and freight audit. Other subsidiary companies, divisions or geographies can be added to the platform as business needs warrant.

About INVISTA

INVISTA is one of the world's largest integrated producers of polymers and fibers, primarily for nylon, spandex and polyester applications. With a business presence in over 20 countries, INVISTA's global businesses deliver exceptional value for their customers through technology innovations, market insights and a powerful portfolio of global trademarks including: ADI-PURE®, ANTRON®, AVORA®, C12™, COMFOREL®, COOLMAX®, CORDURA®, CORFREE®, DACRON®, DBE®, DYTEK®, FRESHFX™, LYCRA®, PERFORMA™, POLARGUARD®, POLYSHIELD®, POLYCLEAR®, SOLARMAX®, STAINMASTER®, SUPPLEX®, SUPRIVA®, TACTEL®, TACTESSE®, TERATE®, TERATHANE® and THERMOLITE®. For more information, visit www.INVISTA.com.

About GT Nexus

GT Nexus runs the world's only industry-backed, on-demand global trade & logistics portal. Today, more than 40,000 registered users, from over 15,000 organizations use a range of capabilities on the portal to optimize the global flow of goods and trade information from order point to final payment. GT Nexus connects the physical and financial supply chains. This allows buyers, sellers, banks and logistics providers to work over a common platform with a core set of information that supports multiple trade and logistics functions. Customers include Xerox, American Eagle Outfitters, Liz Claiborne, Weyerhaeuser and The Home Depot. For information, visit www.gtnexus.com.

Contact Information

  • Media Contact
    Greg Kefer
    Director, Corporate Marketing
    GT Nexus
    +1-510-808-2229
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