Issue 1  Volume 1 October 2005

Logistical Legerdemain

With RFID software developed by CapTech Ventures, Fortune 500 companies and the Defense Department soon will run their supply chains with unprecedented agility and efficiency.

by Peter Galuszka

The unassuming red brick row house on the edge of Richmond’s Fan District might seem an unlikely epicenter of a revolution sweeping the logistics sector. But the business found inside the homey office building, decorated with prints of such local landmarks as the Byrd Theater and the Third Street Diner, is establishing itself as a key player in the RFID (Radio Frequency Identification) phenomenon that is transforming supply chains across the globe.

 

CapTech CEO  Williamson

CapTech Ventures, Inc., an eight-year-old information technology consulting firm, cut a deal last year with Richmond Cold Storage, a refrigerated warehousing company, which allows the field testing of its RFID systems under rugged conditions. The company went on to win Department of Defense approval for use of its TagsWare software platform in DoD's massive supply chain. Then, after lining up two major

resellers for its software, CapTech inked its own agreement to outfit Owens & Minor, one of the largest medical supply distributors in the country. 

RFID is the hottest technology in the logistics industry today, and the field is getting crowded very quickly. CapTech, a firm with $14.5 million in revenues and 100 employees, is too small to be all things to all people. Instead, the company is focusing its efforts on the military supply chain and specialized distributors like those in the health care industry. Says CEO Sandy Williamson: “We’re exploiting unique, custom RFID opportunities that nobody else is chasing."

Basic RFID technology has been around since Navy scientists first used it before World War II. But the technology is accelerating today in a big way. Tiny radio transmitters are replacing the ubiquitous bar codes as the way to keep track of inventory movement. RFID technologies linked to space satellites are even tracking goods as they traverse oceans on container ships. The ability to gather immense amounts of data helps shippers plan with greater precision than in the past. More.

CEOs' seamless transition

At Owens & Minor, Gil Minor has taught Craig Smith the ropes.

By Bob Rayner

Times-Dispatch Staff Writer

In some respects, Gil Minor and Craig Smith could not be more different.

Minor grew up a Virginian, and his family has deep roots here. He speaks with a casual Southern drawl, pausing now and then to consider his words.

Fortune 500 medical-and-surgical-supply company that Minor's family started in downtown Richmond in 1882.

Minor, 64, has spent his entire career at the company, including 21 years as chief executive. Smith, 10 years younger, joined Owens & Minor in 1989 and was promoted to president in 1999. More.

(This article published with permission by the Richmond Times-Dispatch.)

NEWS

Overnite Corporation Reports Record Financials. Overnite Corporation reported record financial performance for the 2Q of 2005, its last quarter as an independent company. Operating revenue reached $470.6 million, up 12.4 percent; net income climbed 37.4 percent to $23.1 million. Said CEO Leo Suggs: "We close out this chapter of Overnite's history as a public company with strong momentum.” ( July 20, 2005 ) More.

Owens & Minor Wins DoD Contract. Owens & Minor has been awarded a multi-year, prime vendor contract to offer global medical and surgical supply distribution services to the U.S. military. Owens & Minor has served the European Command for a decade and the Central Command since the launch of Operation Iraqi Freedom in 2003. ( August 4, 2005 ) More.

Owens & Minor Grows Revenue 8.2 Percent. Owens & Minor has reported record 2Q revenue of $1.21 billion, an increase of 8.2 percent. Said CEO Craig R. Smith: “Growing customer acceptance of our consulting and outsourcing efforts, a solid performance from Access Diabetic Supply, together with our steady, reliable core business, confirm our strategic direction." ( July 20, 2005 ) More.

Turning Basin Agreement to Be Signed. The City of Richmond and the Army Corps of Engineers will sign an agreement this fall to expand the Deepwater Terminal Turning Basin. The project is critical to the safe, efficient movement of large vessels into and out of the port. More.

Overnite Driver Wins Fifth State Championship. Richmonder Dennis Kendrick, a 32-year Overnite employee, won his fifth Virginia Truck Driving championship. ( June 21, 2005 ) More.