Plex Systems has announced the release of the Plex Market Forecast Manager, now part of the Plex Supply Chain Planning Suite, which enables manufacturers to integrate internal and external data points alongside demand plans to drive more accurate inventory decisions, gain market share, and evaluate and scale the supply chain.
The initial release will provide automated access to IHS Markit’s Light Vehicle Forecast, helping manufacturers form more accurate and timely forecasts. IHS Markit is a specialist in critical information, analytics, and solutions for major industries and markets driving economies worldwide.
“As supply chains navigate the current disruptive market environment, the ability to generate timely and iterative demand forecasts is critical,” said Simon Ellis, program VP supply chain for IDC Demand. “Uncertainty requires the ability to make decisions, and adjustments to decisions, quickly. Supply chain tools and capabilities such as Plex Market Forecast Manager and Plex Supply Chain Planning are critical to navigating current levels of uncertainty.”
Plex Market Forecast Manager is a cloud-based information resource that helps manufacturers validate organisational projections within a single source of truth. When combined with Plex Supply Chain Planning, it changes what is typically a time intensive and manual effort for companies into a ‘real time’, high value automated activity that allows leaders to manage the supply chain completely from the top floor to the shop floor.
“The automotive industry is changing rapidly, making supply chain and forecasting tools essential to suppliers working to respond quickly and accurately,” said Henner Lehne, vice-president – global vehicle group, automotive from IHS Markit. “The opportunity to merge our data with Plex’s robust planning solutions gives automotive leaders a significant advantage when making critical decisions about the future of their businesses and supply chains.”
The solution enables comprehensive and streamlined planning at the enterprise level, which includes integrated business planning, demand and supply planning, rough cut capacity planning, and distribution requirements. This data can then be shared with the plant for production scheduling and execution.
“End-to-end visibility and control in manufacturing is a key differentiator that separates leading smart manufacturers from followers,” said Richard Murray, chief product officer of Plex Systems. “Companies that can closely align future forecasting with their supply chains have the greatest opportunity to gain market share by anticipating customer needs and responding to short lead times and changes with agility and resourcefulness.”
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