The world’s population is persistently growing at a rate that is on track to reach 9.7 billion people by 2050, as found by the Population Reference Bureau. With so many new people, companies across the globe are making sustainability a priority and taking measures toward eliminating as much waste as possible. Atlanta-based Verusen and U.K.-based Machine Compare are banding together to help companies do just that — reduce waste along the supply chain and better manage their materials.
Verusen is an AI-powered platform that provides enterprises with tools for real-time supply chain data, inventory optimization and procurement intelligence. Due to the large size and complexity of supply chains, enterprises may encounter considerable waste and duplication because of the expansive amount of goods and assets being tracked, according to Paul Noble, Verusen’s founder and CEO. The company’s platform brings together data across older supply chain systems to reduce risk and working capital costs for businesses.
Based in Manchester, Machine Compare is a B2B marketplace for manufacturers to sell their unused, refurbished or surplus stock of electrical and mechanical machinery. Its product pairs well with Verusen’s as both are dedicated to reducing material waste. By combining with Verusen’s solution, the company will be able to improve its analysis capabilities and data cleanliness.
“We are enabling our customers to find the parts they need so they can be up and running as quickly as possible,” Noble told Built In via email. “We reduce supplier risk due to excess inventory, help to eliminate unnecessary purchases and reduce the number of parts that get discarded in landfills. In the end, the partnership saves everyone money, time and effort.”
The alliance between the two companies will provide manufacturers with a central solution for reducing supply chain waste. Customers will be able to better understand their materials data, optimize their inventory and procurement, as well as source parts from Machine Compare’s marketplace. They’ll also be able to balance their network and excess inventory from Verusen to Machine Compare thanks to the overseas partnership.
“This is an exciting announcement for us on multiple fronts as it helps us to gain recognition outside of the United States and into EMEA,” Noble said. “Additionally, with Machine Compare we can help our customers reduce their maintenance, repair and operations waste, limit their risk and, overall, better meet their end-to-end MRO management and sustainability goals.”
After doubling its team to 50 people last year, Verusen is planning to double its headcount once more, according to Noble. The company is currently hiring across several departments, including product management, data science, software and customer experience engineering. All of the roles are based in the “supply chain city” of Atlanta.
