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Penske Logistics, expecting to rev up the IT infrastructure used to manage its customers' supply-chain and logistics operations, has inked a $1.5 million contract with supply-chain planning software vendor SynQuest Inc.
Vince Harnett, Penske Logistics president, says the new software will help his company, a subsidiary of Penske Truck Leasing Inc. in Reading, Pa., move forward in its quest to do more for its customers than manage their trucks. Penske is one of a handful of third-party logistics providers positioning itself as a company that can manage a customer's entire logistics and supply-chain operation.
Penske has licensed SynQuest's Supply Chain Design, a financial and operational optimization tool; Inbound Planning, a cost-optimization tool; and Tactical Planning Engine, a suite of analytics that helps identify money-making and money-losing products and operations. The software deployment date was not disclosed.