REAL JOBS ON THE WAY AT VIRTUAL WAREHOUSE
Business Editor Belfast Telegraph

Up to 100 new jobs are on the way at a Co Antrim Freight/Logistics firm. Ireland Freight Services Group has revealed it is planning to generate dozens of jobs over the next three years thanks to the creation of a unique new product.

The Company's Global Logistics arm is introducing the web-based Vendorvillage, a virtual bonded warehouse where companies are able to house their inventory. It's a first for Northern Ireland. IFS has just begun roll-out of the product and discussions are under way with major manufacturing companies interested in using it.

The firm predicts Vendorvillage, if it proves successful, could generate up to 100 new jobs by the end of 2003. And it is confident that by establishing Northern Ireland's first VMI (vendor managed inventory) hub it will help to develop the province's logistics infrastructure.

IFS Global Logistics, which has warehouses at Kilroot and Mallusk and also operates from the group HQ at Antrim's Seven Mile Straight, revealed technology giant Nortel Networks, which has a factory in Monkstown, is the first company to embrace the new concept. It said it had fought off competition from multinationals to secure a contract with Nortel to provide a virtual bonded warehouse to its key supplier base. Over the next three years IFS will supply Nortel's VMI requirements and all related logistics and e-commerce services.

Jim Shaw, of Nortel Networks, said the new system supplied by IFS ensures appropriate levels of stock are maintained under Nortel's direction so that its customers can have shorter lead times and fast responses to their supply needs.