Plex Systems Announces New Solution to Help Manufacturers Improve Supply Chain Planning and Forecasting Accuracy
Plex Market Forecast Manager delivers data-driven insights to help eliminate excess inventory, improve planning accuracy, and reduce risks caused by market volatility from COVID-19 and beyond
TROY, Mich., May 14, 2020 /PRNewswire/ -- Plex Systems, which delivers the first smart manufacturing platform, today announced the release of the Plex Market Forecast Manager, now part of the Plex Supply Chain Planning Suite. Plex Market Forecast Manager enables manufacturers to integrate internal and external data points alongside demand plans to drive more accurate inventory decisions, gain market share, and evaluate and scale the supply chain. The initial release will provide automated access to IHS Markit's Light Vehicle Forecast, helping automotive manufacturers form more accurate and timely forecasts. IHS Markit is a world leader in critical information, analytics, and solutions for the major industries and markets that drive economies worldwide.
"As supply chains navigate the current disruptive market environment, the ability to generate timely and iterative demand forecasts is critical," said Simon Ellis, program VP supply chain for IDC Demand. "Uncertainty requires the ability to make decisions, and adjustments to decisions, quickly. Supply chain tools and capabilities like Plex Market Forecast Manager and Plex Supply Chain Planning are critical to navigating current levels of uncertainty."
Plex Market Forecast Manager is a cloud-based information resource that helps manufacturers validate organizational projections within a single source of truth. When combined with Plex Supply Chain Planning, it changes what is typically a time-intensive and manual effort for companies into a real-time, high-value automated activity that allows leaders to manage the supply chain completely from the top floor to the shop floor.
"The automotive industry is changing rapidly, making supply chain and forecasting tools essential to suppliers working to respond quickly and accurately," said Henner Lehne, vice president - global vehicle group, automotive from IHS Markit. "The opportunity to merge our data with Plex's robust planning solutions gives automotive leaders a significant advantage when making critical decisions about the future of their businesses and supply chains."
The solution enables comprehensive and streamlined planning at the enterprise level, which includes integrated business planning, demand and supply planning, rough cut capacity planning, and distribution requirements. This data can then be shared with the plant for production scheduling and execution.
"End-to-end visibility and control in manufacturing is a key differentiator that separates leading smart manufacturers from followers," said Richard Murray, chief product officer of Plex Systems. "Companies that can closely align future forecasting with their supply chains have the greatest opportunity to gain market share by anticipating customer needs and responding to short lead times and changes with agility and resourcefulness."
For more information on Plex Market Forecast Manager, watch the free webinar here.
About IHS Markit
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world's leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2020 IHS Markit Ltd. All rights reserved.
About Plex Systems
Plex Systems, Inc.® delivers the first smart manufacturing platform that empowers the world's leading innovators to make awesome products. Plex gives process and discrete manufacturers the ability to connect, automate, track and analyze every aspect of their business—from the shop floor to the top floor —to drive business transformation. Built in the cloud, the Plex Smart Manufacturing Platform includes MES, ERP, supply chain management, Industrial IoT, and analytics to connect people, systems, machines, and supply chains, enabling them to lead with precision, efficiency and agility in an ever-changing market. Learn more at www.plex.com.
©2020 Plex Systems, Inc. All rights reserved. Plex Manufacturing Cloud and the Plex logo are registered trademarks of Plex Systems, Inc.
SOURCE Plex Systems
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