Standard Foods Partners with Rimini Street to Fund AI-Powered Predictive Data Analytics Project (Graphic: Rimini Street)
Rimini Support™ for SAP enables manufacturer to reallocate resources towards supply chain improvements, driving stronger profitability and operational efficiency
LAS VEGAS, September 25, 2024--(BUSINESS WIRE)--Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and an AWS partner, today announced that Standard Foods Corporation has selected Rimini Support™ for SAP, enabling it to achieve significant cost savings, improve quality of support for its mission-critical SAP systems, and reallocate IT resources towards projects that will drive stronger profitability and enable growth for the leading Taiwanese food manufacturer and distributor.
Jerry Lee, director of IT at Standard Foods shared, "Rimini Street immediately halved our annual support costs and helped our SAP systems run better than ever before. Because of the efficiencies gained, my IT team can focus on using data to improve sales estimations and benefit our partners and distributors. It will be a game-changer for Standard Foods, made possible by Rimini Street."
Better Software Support Allows for More Focus on Data Initiatives
On a search for better software support, Standard Foods received strong recommendations by multiple IT partners and peers to explore Rimini Street.
"What impressed me the most about Rimini Street was that they took the time to get to know our systems in detail, and understand our vision," said Lee. "What sometimes took weeks to get resolved with SAP, compared to the timeliness of the support that Standard Foods gets from Rimini Street is really something else," according to Lee. He added, "The combination of fast response and expert solutions has allowed us to increase our investment in AI and machine learning but with less staff needed to keep those systems running at full speed."
"With Rimini Street, we only need three people to support the five SAP modules we use, and we maintain full functionality," Lee shared. This frees up Standard Foods’ IT team to work on strategic projects such as shifting from SAP’s BI reports to Power BI and cloud-based machine learning for data analysis. By integrating AI with real-time data, Standard Foods has enhanced decision-making across its supply chain.
"Predicting how much to order is an ongoing challenge for manufacturers, and a misstep in calculations in the supply chain can impact profitability," Lee noted. "By running various models with real-time data and AI tools, we can both refine order recommendations and improve procurement processes."
Flexibility and Control of its IT Roadmap Alleviates S/4HANA Upgrade Pressure
As an SAP ECC shop, Standard Foods is one of the many SAP customers who will no longer receive vendor support for its ECC platform past 2027. But they are unbothered by the timeline as they are in full control of their IT roadmap since partnering with Rimini Street.
"At this moment, moving to S/4HANA is not a priority nor do we see it as a strategic move for our business. The ROI is just not there. Perhaps in the future, we may want to consider it, but for now, our efforts and focus will be on innovation, growth and profitability," said Lee.
"One of the impactful areas for AI in the supply chain is demand forecasting. According to industry analysts, AI-based forecasting techniques that incorporate real-time and multivariate data sources can reduce forecasting errors by up to 50% compared to traditional time-series based methods," said Tyler Munger, vice president of analytics at Rimini Street. "Many of our manufacturing clients partner with Rimini Street to direct resources towards investing in AI-fueled improvements that help with their top and bottom-line goals."
With Rimini Street, Lee has peace of mind knowing that his team can access SAP expertise 24/7/365 with under 2-minute average response times as they continue to evolve their IT roadmap. This strategic partnership allows Standard Foods to continue its mission of promoting healthy living by using data to optimize operations.
Learn more about the business goals Standard Foods achieved by partnering with Rimini Street here.
Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and Rimini ONE™ end-to-end outsourcing solutions for SAP and Oracle applications to support competitive advantage, profitability and growth.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and an AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,600 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit riministreet.com, and connect with Rimini Street on X (formerly known as Twitter), Instagram, Facebook and LinkedIn. (IR-RMNI)
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