Software supports project-based manufacturing.

Press Release Summary:

Component-based IFS Applications(TM) v7 suite gives users single view of projects throughout product lifecycle. Through project-centric functionality, project view covers complete lifecycle of each design in PLM, SCM, CRM, EAM, MRO, Finance, and HR. Application suite lets information be controlled and shared through high-security, portal-based solutions, and details can be exported to standard project planning tools.

Original Press Release:

IFS Announces New Solutions to Support Today's Global 'Project Economy'

GOTHENBURG, Sweden, Sept. 20 / -- Addressing more than 1,200 customers and partners at IFS World Conference 2005, IFS CEO Michael Hallen announced today that the global enterprise software company has developed new solutions to help customers shift from a manufacturing economy to a "Project Economy" based on outsourcing and projects. IFS Applications(TM) 7, the seventh generation of IFS' component-based application suite, gives users a single view of projects throughout the product lifecycle, Hallen said, making it the only integrated project-based solution of its type on the market.

"Since so much manufacturing is moving to China, manufacturers in Europe and North America are increasingly concentrating on the creative and design aspects of their products-where they manage and control their brand and design portfolio," Hallen told attendees at the conference, which continues through Tuesday in Gothenburg, Sweden. "Organizations are shifting responsibility for their volume production away from their traditional locations. They are now focusing on managing market trends, innovation, new design, prototype product, and product launch on the front-end, while overseeing the product retirement process on the back end. This shift in production has created increased interest in in-service maintenance and full lifecycle support for the original product, driving additional revenue and profit."

"Neither traditional ERP applications nor project planning software is designed to meet these needs," said Joshua Greenbaum, principal of Enterprise Applications Consulting. "Making low-volume prototypes and managing a complex array of suppliers, designers, and marketing initiatives requires software that can link all these activities together within a project planning framework."

One factor that complicates matters is that companies must execute these activities within a predetermined time frame and budget while managing and minimizing risk, according to Greenbaum.

"The trend toward project-based operations is gathering momentum," Greenbaum said. "Since IFS is one of the few companies offering a comprehensive, completely integrated, project-based solution, the company is well positioned to support enterprises in their transition toward the Project Economy."

IFS Applications 7 supports the needs of the emerging Project Economy through project-centric functionality, enabling all aspects of a product's lifecycle to be managed within the project enterprise. This project view covers the complete lifecycle of each design in PLM, SCM, CRM, EAM, MRO, Finance, and HR, providing a single point from which all activities can be monitored and managed. Details can be exported to standard project planning tools for manipulation by project and program management. Because IFS Applications 7 allows information to be controlled and shared through high- security, portal-based solutions, collaboration with and among suppliers and partners, which is often business-critical, is much easier.

About IFS and IFS Applications

IFS develops and supplies component-based business applications for medium and large enterprises and organizations. IFS Applications, which can be implemented step by step, is based on web and portal technology. The solution offers 60+ enterprise application components used in manufacturing, supply chain management, customer relationship management, service provision, financials, product development, maintenance and human resource administration. IFS offers customers an easier, more open alternative. IFS is a leading global business applications supplier with sales in 45 countries and more than 350,000 users worldwide. The company is listed on the Stockholm Stock Exchange (XSSE: IFS).

IFS Applications is a trademark of IFS Industrial and Financial Systems. All other referenced company or product names are trademarks or registered trademarks of their respective owners.

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