SCOTTSDALE, Ariz., Feb. 19, 2013 /PRNewswire/ -- Executives from Saphran Solutions and Illinois Tool Works (ITW) will discuss how Saphran has helped ITW develop and manage market forecasts taking into account supply-chain turbulence at the Institute of Business Forecasting and Planning's Supply Chain Planning and Forecasting Conference, February 24-26.
Saphran's software allows ITW to integrate market forecasts with data from the company, its customers and suppliers to improve production schedules and forecasts, according to Gwen Steinmetz, global Ford business manager for ITW's Global Automotive Fastener Group.
ITW implemented Saphran systems across multiple operations with different internal planning systems to operate with common global business processes. The new program provides ITW with integrated views of data across various platforms which enables ITW to react in an efficient and more timely manner to changing business and market conditions.
ITW manufactures numerous products in seven business segments, operating from 840 business locations in 58 countries.
Saphran is a leader in the design of systems to manage an entire business cycle, including closed-loop predictive analytics for a company's current enterprise systems and for planning, quoting, costing and forecasting, according to Ken Bassey, Saphran's founder and CEO.
Bassey notes that Saphran provides active business management systems with data synchronized to current and future product structure, platforms and product models. Time frames and attributes for analysis are flexible and modifiable, and closed-loop integration brings together external market forecast data with current operations data to predict future demand and anticipate risk. The system is flexible to help companies diversify and expand without investing in new processes and systems.
Saphran systems can maintain a rolling composite forecast, combining historical, short-term and long-term information and forecasts. They produce a consensus forecast with current business conditions updated in realtime in a collaborative manner with the latest business information and market intelligence available.
"In our constantly changing business environment, managers from companies such as ITW, face demands for more agility, accuracy and flexibility to meet uncertainty in the supply chain," Bassey adds. "Just how do you forecast for a hurricane on the East Coast closing critical ports of delivery, a tsunami causing lengthy delays in critical electronic components, a recession dramatically cutting automotive production or significant key-commodity price changes?
"Saphran technology helps its customers meet these major supply-chain challenges."
About Saphran Solutions
Founded in 2004, Saphran Solutions is located in Franklin, Michigan. An independent software developer, the company helps automotive suppliers and other manufacturers achieve dramatic efficiencies and increased profitability by narrowing the gap between business planning and performance. Saphran software modules are designed for original equipment suppliers with sales of between $50 million and $20 billion. The company's software programs can be implemented quickly; pay for themselves within three to six months; provide significant competitive advantages, and help protect and increase profit margins. More information about Saphran is available at http://www.saphran.com.
About Illinois Tool Works
Illinois Tool Works or ITW (NYSE: ITW) is a Fortune 200 company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It employs nearly 65,000 people, and is based in Glenview, Illinois, with operations in 58 countries. http://www.itw.com
About The Institute of Business Forecasting & Planning
IBF is a membership organization for demand planning, forecasting, and supply chain education. The IBF is known as a center of learning for forecasting & planning strategies and techniques for every major industry on a global level. http://www.ibf.org
SOURCE Saphran Solutions