Radian and Northpoint launch marine supply chain management program
Radian IoT and Northpoint Commercial Finance have announced a new pilot program leveraging Radian IoT’s GPS tracking technology for direct testing among select Northpoint OEM and dealer customers.
This pilot program featuring a sampling of Northpoint customers is designed to test the delivery of real-time insights into OEM inventory level management, production trends and delivery timelines to enable more efficient production planning and tracking. On the retail front, Radian IoT technology is expected to yield precise in-transit tracking, greatly improve inventory reporting and enhance customer service through real-time data on stock units.
“This powerful collaboration allows Northpoint to initially test and leverage Radian IoT’s award-winning technology and innovation within the marine finance space, with the goal to deliver unparalleled insights and greater efficiencies related to inventory management throughout the supply chain funnel,” said Gary Childress, vice president of marine operations, Northpoint. “If the test results deliver as anticipated, we would look forward to expanding the program throughout our customer base.”
Radian IoT President Scott Crutchfield added, “We are incredibly proud to partner with Northpoint Commercial Finance, a leader in the industry and an early adopter of Radian IoT technology. “Northpoint clearly understands the immense value of eliminating distractions and disruptions in the workplace. In addition, Northpoint understands that transparency is essential for building trust between manufacturers, dealers and the finance company. By leveraging our unique capabilities, Northpoint is facilitating stronger internal controls and improved efficiency which is expected to reduce inventory management complexity for its customers.”
Bruce Van Wagoner, former president of GE Capital Marine Group and subsequently Wells Fargo, also recognized Northpoint’s leadership role in this important initiative. “I applaud Northpoint for recognizing and partnering with Radian to test its technology among a select sampling of OEM and retail customers,” he said. “After many years leading the bank’s financial commitment to the recreational marine industry, I’m convinced that relationships and the understanding of the challenges of a seasonal, cyclical, multi-segment and complicated business are keys to success. While we used the best data available to create metrics to monitor portfolio health, that data was often dated, incomplete and inaccurate, and therefore not as useful as anyone would have liked. Radian IoT offers a proven solution to improve builder, reseller, supplier (including banks and insurance companies) and consumer experience as a direct result of its revolutionary hardware, platform and monitoring technology available via its mobile app.”
Jeff Strong, owner and president of Strong’s Marine with multiple New York retail locations, is among the first to participate in the new pilot program. “We expect Radian telematics to improve transparency with our industry partners,” said Strong. “When our builders, banks and insurance partners understand our inventory position at all times, we are confident it will reduce administrative costs and any perceived risk.”
Parker Stair, chief sales and marketing officer of Helios Marine Group and Montara Boats of Loudon, Tennessee, said, “The data we receive from Radian is incredibly valuable. We use the location data almost daily to determine where boats in transit are located. The data we receive also saves us in warranty, helps us increase turns and allows us to make smarter decisions all around.”
“We like the Radian solution because it links all stakeholders into the equation,” added John Dorton, CEO of Invincible Boats. “Manufacturers have much more intel on how our products are used so we can make smarter decisions for product development and warranty. Service providers like lenders and insurers have greater control and less risk, while consumers have greater insight and security regarding their vessel. It’s not just a valuable tool; it’s a necessity in today’s marketplace.”
