Being a finalist in this 'super bowl' of Operations Research practice is a great accomplishment for New Brunswick. We are proud to have been part of the project team,” said Steve Palmer, Co-Chief Executive Officer, Remsoft.
Fredericton, New Brunswick (PRWEB) December 29, 2009
Further to a partnership with leading analytics software developer Remsoft Inc., the New Brunswick Department of Transportation (NBDoT) is the only Canadian finalist for the coveted Franz Edelman Award which recognizes achievement in operations research and the management sciences. As one of six finalists in the international competition where dozens apply, the NBDOT joins the ranks of past Edelman “Laureates” who have been recognized for their significant contribution to work that is representative of the best applications of analytical decision making in the world.
“Being a finalist in this “super bowl” of Operations Research practice is a great accomplishment for New Brunswick,” said Steve Palmer, Co-Chief Executive Officer, Remsoft. “We enthusiastically congratulate the department. This is an elite contest where the likes of HP and IBM were finalists last year. We are proud to have been part of the project team.”
NBDoT is recognized for their Transportation Asset Management System which is powered by Remsoft Analytics software to manage risks, costs and decision complexities. “It’s gratifying to see our software recognized globally and implemented locally, to better manage our infrastructure,” added Mr. Palmer.
The NBDoT manages an extensive highway network including 18,000 kilometers of roads, 2,900 bridges and various ferry crossings throughout New Brunswick. Remsoft’s Advanced Analytics applications help the government department get the most out of every available dollar and decision to better manage, maintain and repair transportation infrastructure.
Click to read case study http://www.remsoft.com/case_studies.php?id=57.
For over 17 years, Fredericton-based Remsoft has developed products that enable clients to make decisions that meet critical objectives. “This particular solution delivers an unprecedented level of collaboration and allows detailed scenario exploration,” explains Ugo Feunekes, Remsoft’s Co-Founder, Chief Technology Officer. “In fact, Departments of Transportation in other jurisdictions can also use Remsoft Analytics to more effectively manage risks, costs and decision complexities, while providing transparent, defensible plans that are based on mathematical certainty,” he emphasizes.
“Operations research” is a scientific approach to solving management and operational decision problems. It uses advanced mathematical techniques often embedded in computer models to help companies make optimal decisions about its organizational structure, the allocation of resources, and production and logistics. To view an OR video visit http://www.youtube.com/watch?v=I43fGlSh6kA&feature=related.
Remsoft Analytics provide considerable financial savings for the NBDoT and improves overall asset quality. Mr. Feunekes says maintenance costs are reduced, highway safety is enhanced and planning is optimized across all assets within the organization. “The software provides a strategic approach to planning and identifies all relevant data needed for optimal planning. It’s a real step forward in terms of moving away from a fix-worst-first mentality to the point of implementing a fact-based decision making process.” Adoption of Remsoft Analytics resulted in a three-year transportation commitment from the provincial government which is the highest level of funding for highway rehabilitation in New Brunswick’s history.
NBDoT and Remsoft will present their work and be recognized as Edelman Laureates for their accomplishment at the 2010 Edelman Competition and Awards Gala, Applying Science to the Art of Business, April 18-20, 2010 in Orlando, Florida.
For more information about the event please visit http://meetings.informs.org/Practice2010/index.html
For 38 years, the Franz Edelman competition, run by the Institute for Operations Research and Management Science (INFORMS), recognizes the contributions of operational research in all sectors. Since its inception, nearly $160 billion in benefits have been tabulated among finalist teams. HP won the 2009 Franz Edelman Award for its software algorithm developed to help companies realize millions in cost
The six 2010 Franz Edelman Award finalists and their topics are:
1. Delaware River Basin Commission (US): Improving Water Release Policies on the Delaware River through O.R.
2. Deutsche Post DHL (Germany): Global Brand Assessment
3. INDEVAL (Mexico): Indeval Develops a New Operating and Settlement System Using O.R.
4. *New Brunswick Canada Dept. of Transportation (Canada): Achieving Transportation Asset Management via O.R.
5. Procter & Gamble (US): Inventory Optimization at Procter & Gamble: Achieving Real Benefits Through User Adoption of Inventory Tools
6. Sasol (South Africa): Stochastic Operations Models at Sasol
Remsoft develops industry-leading software for managing scarce resources. The software helps our clients make decisions that meet critical objectives while ensuring that all business, regulatory and other constraints are met. Our optimizing technologies facilitate tradeoff and scenario analysis across asset classes, and offer a strategic approach to investment planning and program development.
Remsoft Analytics technology helps organizations identify a best-way forward set of plans that maximize performance across the enterprise and planning horizon. It uniquely delivers the ability for key stakeholders to collaborate and create goal-based plans with unprecedented accuracy, flexibility, simplicity and speed.
For additional information, visit http://www.remsoft.com or call +1.506.450.1511