Supply Chain Solution creates statistical forecasts.
Press Release Summary:
Collaborative Demand Management supply chain and e-business solution allows manufacturers to forecast and manage demand for product. Based on Aspen Demand Manager(TM) and Collaborative Forecasting(TM), solution can create initial demand forecast using historical sales information, planned events, and promotions. It also allows internal and external partners to collaborate on forecast and suggest changes.
Original Press Release:
AspenTech Announces Availability of Collaborative Demand Management Solution
New collaborative solution improves demand forecasting and management and enables more effective supply chain planning and scheduling
CAMBRIDGE, MA, April 03, 2002-Aspen Technology, Inc. (Nasdaq: AZPN) today announced the release of its Collaborative Demand Management solution, a supply chain and e-business solution that allows chemical, polymer, pharmaceutical and consumer goods manufacturers to more effectively forecast and manage demand for their products. Typical benefits include improved demand forecast accuracy, reduced inventories, better capital investment decisions, and stronger relationships with key customers and suppliers.
The new solution is based on two of AspenTech's web-based products: an enhanced version of Aspen Demand Manager(TM), which forecasts future product demand; and the new Aspen Collaborative Forecasting(TM), which allows internal and external partners to collaborate on the demand forecast.
"Aligning supply with demand is a critical requirement in the asset-intensive process industries," said Mary A. Palermo, Co-Chief Operating Officer of AspenTech. "By improving the accuracy of product demand forecasts, AspenTech's Collaborative Demand Management solution creates tremendous value for process manufacturers. Moreover, by integrating seamlessly with our supply chain planning, scheduling and manufacturing execution solutions, the solution enables process manufacturers to drive out supply chain inefficiencies."
Companies can use the new solution to create an initial demand forecast using historical sales information, planned events and promotions. The solution then allows both internal partners, such as sales representatives and product managers, and external partners, such as customers and suppliers, to collaborate on the forecast and suggest changes based on their latest information. The solution uses this information along with powerful statistical techniques to predict future demand, resulting in a consensus forecast that is more accurate and reliable. The solution also provides advanced analysis and decision support capabilities for demand planners.
"Collaborative demand management solutions that combine demand forecasting with a collaborative environment for internal stakeholders, customers and suppliers to exchange demand information can improve the accuracy of demand forecasts," said analyst Sid Snitkin, VP Enterprise Applications, ARC Advisory Group. "In asset-intensive process manufacturing industries, collaborative demand management solutions should also be tightly coupled with planning and scheduling processes to ensure that manufacturers take manufacturing constraints into account as they execute against the demand forecast."
AspenTech's Collaborative Demand Management solution incorporates a number of differentiating features that create value specifically for process companies. These include the ability to:
- Predict demand using a wide-range of standard and customizable attributes
- Generate a statistical forecast using a wide-range of standard and custom forecasting techniques based on industry-leading analytical and forecasting technology from SPSS Enabling Technologies "SPSS ETD", a division of SPSS Inc. (NASDAQ: SPSS)
- Work seamlessly with AspenTech's process industry specific supply chain planning, scheduling and manufacturing execution applications
- Reconcile operational demand forecasts with strategic and financial forecasts
Aspen Collaborative Demand Management 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.
About AspenTech
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
Contacts:
For Media:
Peter Watt
Aspen Technology, Inc.
+44 1223 819-752
peter.watt@aspentech.com
For Investors:
Carin Warner
Warner Communications
1 (978) 526-1960
carin@warnerpr.com
Joshua Young
Aspen Technology, Inc.
1 (617) 949-1274
joshua.young@aspentech .com
