SYSPRO
Company: SYSPRO
Company Description: Since 1978, SYSPRO has been delivering state-of-the-art Enterprise Resource Planning software to some of the world's leading companies. SYSPRO now caters to the specialized needs of 14,000 ompanies in more than 60 countries worldwide. SYSPRO ERP software is a fully integrated business solution that controls accounting, manufacturing and distribution operations in numerous industries.
Nomination Category: New Product Awards & Product Management Categories
Nomination Sub Category: New Product or Service of the Year - Manufacturing
Nomination Title: SYSPRO Inventory Optimization
Tell the story about this nominated product or service (up to 500 words). Describe its function, features, benefits, and sales to date. You may include hyperlinks to product photos and data sheets. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
In 2010 SYSPRO introduced the SYSPRO Inventory Optimizer, the final module
comprising the SYSPRO Inventory Optimization Suite, the most comprehensive
inventory forecasting/control suite offered by any ERP (Enterprise Resource
Planning) software vendor.
The embedded Optimizer is unique in a mid-size ERP system, and along with
improved Warehouse and Quality Management functionality, provides the ability
for companies to recover from the economic downturn as leaner, more efficient
organizations.
SYSPRO Inventory Optimizer provides visibility into the status of all forms of
inventory across the inventory flow cycle. Quantities of raw materials, work-in-
process and finished goods inventories are automatically updated and forecasts
adjusted in accordance with the organizations inventory management and
optimization policies. Planners, therefore, have the ability to manage demand
fluctuations with superior responsiveness. Buyers have the ability to plan
purchasing to ensure a high level of service. Full visibility is provided of
all stock levels per warehouse, such as Quantity on hand, on order (Purchase
Order and Work in Progress WIP), available, allocated to Sales Orders, on
Back Order, allocated to WIP, in transit, in inspection, future free. At any
point in the system an Available To Promise query can be performed to establish
what stock is available or when stock will become available.
The SYSPRO Inventory Optimization Suite consists of the SYSPRO Forecasting
module, which performs forecasting at the item/warehouse level as well as
aggregations of forecasting to higher levels as defined by the SYSPRO Groupings
and Families module. It enables the use of a variety of forecasting
algorithms, including predefined algorithms or a competition method where the
system will use the mathematical formula best suited to an item’s historical
sales.
The Forecasting module takes into account seasonality and also removes outliers
and anomalies. Users have the ability to define calendars, forecast horizons,
monthly or weekly time buckets and to override forecasts to accommodate market
intelligence. The module stores three or more years of history and facilitates
dynamic analyses with tabular and graphical reports.
The SYSPRO Inventory Families and Groupings module arranges 'collections' of
stock keeping units (SKUs) into families and groupings of similar items. These
collections provide a high-level view of items at which sales forecasts can be
produced and the quality of the forecast measured. A significant feature is the
ability to group warehouses for purposes of forecasting at a regional or
territory level for logistical or supply chain purposes. There is also the
feature for forecasts to be generated at a brand level to facilitate a clearer
marketing picture.
The SYSPRO Inventory Optimization solution will allow companies to effectively
fulfill demand and identify how to gain additional profits from their
inventories. Inventory Optimization is an integral part of efficient resource
management and the foundation of enhanced levels of service, improved
performance against customer request dates and a better return on equity. It
is also a powerful, competitive tool for small and medium-size companies that
operate in markets dominated by much larger firms. Inventory Optimization is
also fundamental to implementing the demand-driven, lean manufacturing model.
List hyperlinks to any online news stories, press releases, product reviews, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://www.pitchengine.com/agency-newsfeed.php?id=6218
Provide a brief (up to 100 words) biography about the leader(s) of the team that developed this nominated product or service:
A co-founder of SYSPRO USA in 1987, Joey Benadretti serves as President and
Joint Managing Director for the company where he has concentrated on building
an in-depth organization to meet the growing needs of both the company’s
expanding reseller channel and its user base of midmarket manufacturing and
distribution clients. He has also been a driving factor in gaining significant
international industry recognition for SYSPRO, including three “Company of the
Year” awards as well as a long list of other top industry honors and accolades.
Today, SYSPRO is one of the most respected and notable software companies in
the USA.
Prior to joining SYSPRO, he worked as a senior management consultant in direct
marketing systems and techniques. He also ran his own business, recruiting top
notch young athletes for sports scholarships in the United States.
Joey Benadretti is the recipient of numerous awards that have recognized his
leadership in business and the software industry and he remains very active in
many areas of education, community and technology. He joined this board of
theBABC in 2010.