LONDON, June 12 /PRNewswire/ -- Sourceree, recognised as one of the year's
most promising early stage companies having developed the world's first
independent Internet-based supply chain event management system, will tell
attendees at today's Venture 2001 conference that inefficient supply chains
present a serious threat to profitability and shareholder value in
multinational companies.
    "Experience shows that supply chain failures can lead to a 20% fall in a
shareholder value; while the cost of managing a multinational supply chain can
consume up to 25% of company revenues," says Tony Walford, Sourceree's CEO.
    "Companies seeking the benefits of outsourced manufacturing and global
sourcing compromise supply chain efficiency as they struggle to manage
supplier bases of up to 2,000 companies.
    "An error or inefficiency by any one of those suppliers sets up a domino
effect that impacts the company's ability to satisfy its customer.
    "What's needed," he states, are new technologies that allow companies to
work collaboratively with suppliers and business partners in real time.  "This
will allow them to identify and resolve supply chain problems before they
happen and build reliable operations that reduce the need for expensive excess
inventory, held to cater for unforeseen circumstances."
    Sourceree's Internet-based hosted service, which allows multinationals to
build collaborative supply chain communities and manage supply chain events in
real time is attracting considerable market interest.
    "The concept is new," says Walford.  "There are systems out there that
forecast what might happen in the supply chain tomorrow but Sourceree tells us
what's happening today so that we can make changes today that will affect
company performance."
    In May this year Sourceree was the only non-US company named in Red
Herring's prestigious "Ten to Watch" list of early stage companies that,
thanks to their innovative services, outstanding management and robust
business strategies are expected to make it big in 2001.
    Sourceree has spent over a year developing its service and signed its
first customer in April -- a leading textile manufacturer with operations in
Europe and Asia.

    Notes:
    About Sourceree
    Sourceree was founded in March 2000 by Ken Lyon, former Vice President of
International Information Services for UPS Logistics Group, with support from
Esther Dyson, Chairman of EDventure Holdings, who now sits on the board as a
Non-executive Director.
    The company has successfully raised 3.8 million pounds sterling.  Its
backers include angel fund iGarbriel, Esther Dyson and Internet Capital Group.

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