HONEY BROOK, Pa., Sept. 4, 2012 /CNW/ - Neopart, the leading provider of supply chain management and Vendor Managed Inventory (VMI) Services to North American bus transit authorities, announced today that the initial participants in the Transit Inventory Management Services (TIMS) project have won the Peter J. Marshall Innovation Award. The Town of Oakville, along with the Region of Waterloo, Region of York, and the cities of Brampton, Burlington, Hamilton and London, Ontario received the award, recognizing the TIMS project – an initiative that involves multiple transit authorities consolidating their parts procurement through a single North American supplier.
According to the participating transits, the TIMS's "Vendor Managed Inventory (VMI) model reduces administration costs, uses economies of scale to save participating municipalities money, increases efficiency, and reduces the supply chain's carbon footprint. This new model allows for a more stable and streamlined supply chain, where fluctuations in inventory space and financing are absorbed by the supplier rather than the transit system."
Charles Whitlock, director, Procurement and Supply Services at the Region of Waterloo and Chair of the TIMS project, observed that "this project is a result of supply chain specialists and senior transit staff working together for two years to create a process that works."
The TIMS program, delivered from Neopart's Ontario-based VMI services facility, is the largest transit bus VMI program in North America. TIMS initially supports 1500 transit buses in their delivery of over 100 million passenger trips per year. While the award was received by the initial TIMS participants, all municipalities and transit agencies throughout Ontario are eligible to participate in the TIMS program.
The Peter J. Marshall Innovation Award recognizes municipal governments that have demonstrated excellence in the use of innovative approaches to improve capital and/or operating efficiency, and to generate effectiveness through alternative service delivery initiatives and partnerships.
Neopart provides supply chain management solutions, including Vendor Managed Inventory (VMI) services, and aftermarket parts, materials and supplies to public and private transit and coach fleets. During its nearly three decade history, Neopart has served over 95% of North America's public transit agencies. In 2007, Neopart was acquired from its parent transit bus manufacturer by an investor team with logistics, service and supply chain management and technology expertise, emerging with a new focus on progressive supply chain and inventory management strategies. The combination of Neopart's aftermarket parts knowledge, access to the global network of original bus part manufacturers and advanced supply chain management skills and systems have enabled Neopart to become the leading North American provider of VMI services. These programs are driving well-documented and verified operational improvement and cost reduction through service-oriented partnerships with public transit agencies and their maintenance and procurement operations. In addition to the TIMS participants, Neopart holds VMI services contracts with Southeastern Pennsylvania Transit Authority (SEPTA), Rochester Genesee Regional Transit Authority (RGRTA), MV Transit's Fairfax Connector operation and the Greater Richmond Transit Company (GRTC), collectively supporting the successful daily operation of over 4000 North American transit buses. Further information is available at www.neopart.com.
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