Press Release Summary:
Inventory Planner(TM) application helps manufacturers reduce inventory costs and improve customer service by planning and managing inventory for products, raw materials, and intermediate materials. It lets companies develop, compare, and evaluate planning and scheduling scenarios so they can make decisions regarding coordination of supply chain activities. It includes pre-configured interfaces, procedures, reports, and analysis tools.
Original Press Release:
AspenTech Announces Release of Aspen Inventory Planner(TM)
New application reduces inventory costs and improves customer service; pre-configured templates ensure reduced implementation time and faster time-to-benefit
CAMBRIDGE, MA-April 9, 2002-Aspen Technology, Inc. (Nasdaq: AZPN) today announced the availability of Aspen Inventory Planner(TM), 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.
Aspen Inventory Planner is a configured application for the Aspen MIMI(TM) software, AspenTech's industry-leading supply chain optimization 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 coordination 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 provide 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 optimize stock levels, even in an uncertain business environment," said Mary A. Palermo, Co-Chief Operating Officer of AspenTech. "The use of Aspen Inventory Planner ensures that companies begin to realize 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
- Calculate minimum, maximum and target inventory levels for various inventory categories
- Integrate with existing ERP and legacy systems to ensure data uniformity
- Integrate 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," said 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 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(TM) solution. Aspen ProfitAdvantage increases the profitability of process companies by enabling the optimization of their entire value chain from the supply of raw materials, through production, to the delivery of the final product.
Aspen Technology, Inc. is a leading supplier of integrated software and solutions to the process industries. The company's Aspen ProfitAdvantage(TM) solution enables companies to identify and maximize profit opportunities throughout their entire value chain - from the supply of raw materials, through the production of goods, to the delivery of final products to customers. The Aspen ProfitAdvantage solution encompasses engineering, manufacturing, supply chain and e-business collaboration technologies, providing the tools that enable manufacturers to design, optimize and execute business processes in real time. Over 1,200 leading process companies already rely on AspenTech's 21 years of process industry experience to increase revenues, reduce costs and improve capital efficiency. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, Chevron, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, Merck, Mitsubishi Chemical, and Unilever. For more information, visit www.aspentech.com.
AspenTech, Aspen ProfitAdvantage, Aspen MIMI, Aspen Inventory Planner and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.