Benchmark Rings Reduces Inventory, Optimizes Resources, and Gains Operational Visibility With Lead Time Technology |
|
By: Lead Time Technology Posted: 2008-05-20 07:54:24 |
|
Lead Time Technology (LTT), a market leading provider of technology-enabled process optimization tools to reduce and right-size inventory, improve forecast accuracy and service, optimize production resources, and reduce cycle time across the supply chain, today announced that Benchmark Rings has successfully implemented its recently released FastForward advanced planning and optimization tools suite. FastForward leverages all of the capabilities of the LTT Enterprise tools suite in a low cost, rapidly implemented solution designed for small to mid-sized manufacturers and distributors.
"We needed to improve our forecasts and reduce inventory across our supply chain," said A.J. Tosyali, president of Benchmark Rings. "We selected FastForward from Lead Time Technology based on the fact that it was affordable, could be rapidly implemented, and offered to us highly sophisticated process optimization and best practices beyond any capabilities the enterprise software vendors could offer." FastForward is a fully configured, easily implemented solution for forecasting, inventory, production, distribution, and resource optimization for one location or many. The system tells you what you should make and when you should make it, so you will never run out or have too much inventory. The solution simplifies, automates and optimizes complex daily decision making for planners/schedulers utilizing sophisticated, patented algorithms in an intuitive easy-to-understand graphical user interface. Its process improvement best practices are based on Lean Six Sigma principles and the experience of Lead Time Technology's practitioner founders and developers. "We experienced significant benefits virtually from day one," added A.J. Tosyali. "The implementation facilitated process improvements and increased the productivity of our planners immediately. Within days of going live, we were able to identify inventory reduction opportunities due to optimal targets set by the tools, increased visibility to our planning horizons, and integrated operations planning for production and distribution." Benchmark Rings, based in Tuscaloosa, Alabama, manufactures and distributes high quality wedding rings through retailers across the country. For more than 40 years, Benchmark Rings is recognized for its introduction of the "Comfort Fit" design that allows for a better fit since the inside of the ring is curved so that it doesn't cut into your finger during wear. Benchmark Rings is also one of the few manufacturers to master the technology behind precision-setting. This process allows as much of the diamond's surface to be displayed while also providing superior security for the stones. Faced with growing challenges to managing the complexity of its supply chain, rising inventory costs due to the price of precious metals and increasing transportation costs, Benchmark selected Lead Time Technology's newly released FastForward to improve operations planning, optimize inventory, better utilize its production resources, and improve forecast accuracy. "We looked at a lot of different applications and vendors," said A.J. Tosyali, "but, in the end, LTT offered us the sophistication of highly specialized mathematics and process techniques in an affordable offering that specifically addressed our requirements. The product was implemented rapidly, with minimal staff training, and on budget with results exceeding our expectations." FastForward considers all business processes, constraints, costs, and business objectives to determine the most profitable flow of materials and utilization of resources for any given planning horizon. FastForward can be implemented at any type of manufacturer or distributor and is designed to be a low risk and cost tool to support manufacturers' and distributors' business planning needs including: -- Improve customer service - anticipates customer orders. -- Lower inventory - make only what is needed -- Improve data visibility across the supply chain -- Improve resource productivity and utilization -- Liberate working capital and increase revenue -- Daily make/move recommendations based on available inventory, forecast and orders on the books for every SKU at every factory or warehouse -- Easy to use reports and graphics for every level of the organization -- Pays for itself in less than six months! "Benchmark Rings, as its name implies, is the benchmark for quality and precision in the wedding ring market," said Mike Bonelli, president of Lead Time Technology. "With their implementation of FastForward, we are pleased to support their leadership and competitive advantage by setting new benchmarks for manufacturing and supply chain excellence in the jewelry industry." About Lead Time Technology, Inc. Founded in 1998, Lead Time Technology, Inc. is a market leading provider of technology-enabled process optimization tools to reduce and right-size inventory, improve forecast accuracy and service, optimize production resources, and reduce cycle time across the supply chain including manufacturing, distribution and retail. Its applications are developed by practitioners for practitioners to achieve world class operations improvement leveraging Lean Six Sigma, and SCOR principles supported by patented algorithms and technology. Lead Time Technology's unique combination of consulting and software enables operational decisions to be clearly correlated to financial measurements to ensure rapid ROI and increased contribution to shareholder value on a daily basis. Based on Microsoft platform technology and independent of enterprise applications, the intuitive user interface distills all supply chain complexities into a simple list of recommendations for continuous flow management and synchronization for virtually any size or type of operating environment. Contact Lead Time Technology at 423-240-0365, or http://www.leadtimetechnology.com for more information. Press and Analyst Contact: Cathy Forsthoffer |
| Trackback url: https://press.abc-directory.com/press/3033 |