Aspen Technology is offering its Aspen Inventory Planner, a new supply chain product that allows process manufacturers to reduce inventory costs and improve customer service by more effectively planning and managing inventory for their products, raw materials and intermediate materials.
The product is a configured application for the Aspen MIMI software, AspenTech's industry-leading supply chain optimisation decision-support tool. Aspen MIMI enables companies to develop, compare and evaluate different planning and scheduling scenarios quickly so that they can make informed decisions regarding co-ordination of supply chain activities.
Aspen Inventory Planner contains pre-configured interfaces, procedures, reports and analysis tools, which offer significant advantages for inventory planners. It is one of a suite of new configured applications that are based upon industry best-practices for supply chain management, and provides users with powerful templates that reduce implementation time and deliver a faster time-to-benefit. The other Aspen MIMI applications address the key supply chain business processes of demand management, inventory planning, supply planning, distribution scheduling, plant scheduling and long-term enterprise strategy.
"This new application enables inventory managers to meet customer commitments and optimise stock levels, even in an uncertain business environment," says Ian Huntly, managing director of AspenTech Africa. "The use of Aspen Inventory Planner ensures that companies begin to realise these benefits more quickly, and with lower implementation costs."
Aspen Inventory Planner incorporates a number of differentiating features that enable it to create increased value for process companies. These include the ability to compute safety and cycle stocks in complex distribution networks for products, intermediate materials and raw materials; independently consider make, buy and sell options for each material or product as well as calculate minimum, maximum and target inventory levels for various inventory categories. It also integrates with existing ERP and legacy systems to ensure data uniformity and integrates seamlessly with AspenTech's supply chain planning and scheduling applications to drive out supply chain inefficiencies.
"Flexibility in an inventory planning model is essential to achieving optimal inventory management," says Sid Snitkin, VP Enterprise Applications, ARC Advisory Group. "The ability to incorporate multiple and alternate formulas, integrate with various ERP systems, consider all possible inventory locations and change as a manufacturer's business environment changes, are the elements of an advanced inventory planning system."
Aspen Inventory Planner is a key component of AspenTech's ProfitAdvantage solution. Aspen ProfitAdvantage increases the profitability of process companies by enabling the optimisation of their entire value chain from the supply of raw materials, through production, to the delivery of the final product.
For more information contact: Amanda Strauss, AspenTech Africa, tel: 011 258 8771, e-mail: [email protected], website: www.aspentech.com
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