Singapore – September 26, 2024 – In a strategic move to accelerate growth and enhance operational efficiency, Standard Foods Corporation, a prominent Taiwanese food manufacturer and distributor, has chosen Rimini Street, Inc. (Nasdaq: RMNI) as its SAP support partner. This collaboration has enabled Standard Foods to significantly reduce its support costs, optimize the performance of its mission-critical SAP systems, and reallocate IT resources towards cutting-edge projects, including AI and machine learning initiatives.
Revolutionizing SAP Support to Drive Innovation
Jerry Lee, Director of IT at Standard Foods, highlighted the immediate benefits of the partnership: “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.”
Efficient Support for Enhanced Data Projects
Standard Foods’ decision to explore Rimini Street was influenced by strong recommendations from multiple IT partners. The company found itself impressed by Rimini Street’s dedication to understanding its systems and strategic vision. “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,” Lee emphasized. “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.”
Achieving Flexibility and Control Over IT Roadmap
By implementing Rimini Support™ for SAP, Standard Foods gained more flexibility over its IT operations. “With Rimini Street, we only need three people to support the five SAP modules we use, and we maintain full functionality,” Lee shared. This efficiency has allowed Standard Foods to redirect resources towards strategic projects, such as transitioning from SAP’s BI reports to Power BI and integrating cloud-based machine learning for more advanced data analysis.
Using AI and real-time data integration, Standard Foods has improved decision-making across its supply chain, creating a significant impact on its procurement processes. “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.”
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S/4HANA Upgrade: Unnecessary for Now
As an SAP ECC user, Standard Foods faced the upcoming end of vendor support for its platform in 2027. However, thanks to its partnership with Rimini Street, the company now has complete control over its IT strategy without feeling pressured into upgrading to S/4HANA. “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,” Lee explained.
Rimini Street’s Role in AI-Powered Supply Chain Optimization
Highlighting the value of AI in supply chain management, Tyler Munger, Vice President of Analytics at Rimini Street, shared: “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. 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.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of comprehensive enterprise software support, products, and services. As the leading third-party support provider for Oracle and SAP software, Rimini Street helps clients significantly reduce costs and reallocate resources for innovation. Serving over 5,600 clients, including Fortune 500 and Global 100 companies, Rimini Street enables businesses to achieve better outcomes with their enterprise software solutions. Learn more at riministreet.com and connect on X (formerly Twitter), Instagram, Facebook, and LinkedIn.
