QUANTRIX is used globally in 50 different countries by Financial Companies. Why?
Six of the top ten global investment banks and many leading commercial banks, insurance companies, hedge funds, property investment funds and use Quantrix to plan growth and develop their growth and service their customers. The power of true multi dimensional planning.
Financial Modelling or Modeling depending on your spelling preference can be frustrating using the traditional means. A 2 dimensional worksheet manually maintained developed over years with several different and weighted down with errors just does not meet the needs of now. Trillions of Dollars blown up, Regulators giving up on light touch and demanding visibility.
FREE IFSC Quantrix presentation March 11th 0930 Jury's Inn
Financial Analysts, Financial Controllers, IT Managers, CEO and Managing Directors need modelling accuracy. Financial Models with strong "what if analysis" capabilities. Models need to be complex, robust and enjoy real scalability.
Financial planning teams need to see Cash flows, Balance Sheets, Risk Models, need to link immediately to existing IT systems SAP, ORACLE. Create interactive presentations and dashboards modelling the financial consequences in real time of your business choices.
► MXI Modelling Platform Delivers Financial Services Success
QUANTRIX meets the needs of the Financial Services Professional head on. Quantrix Modeller's multi-dimensional modelling, analytics, business intelligence and dashboard features allow business users to develop stand-alone and integrated models to understand business conditions and examine downstream impact
► An Extension of Your Team
Whether it is assisting a hedge fund, equities trading, rick analysis with a portfolio model or an investment bank with a financial risk mode. MXI Professional Services brings the expertise, resources, and "best practices" methodologies to help meet project deadlines and ensure business success.
That's why we are presenting in IFSC Jury's Inn on March 11th
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There is a low cost cost-effective solution to replace desktop spreadsheets. It's QUANTRIX a desktop solution for the real world MXI Software that helps clients to implement the multi dimensional Quantrix Modeller. It can replace most or all (depending on how it's used) of the difficulties that organisations face in budgeting, forecasting, sales & operations planning as part of a repetitive collaborative business process.
This is particularly important in planning, budgeting, forecasting and modelling. The business intelligence integrator, DataPush helps companies to automatically push data from Quantrix models to databases or business applications. DATA Push feature is useful when people want to do integrated business planning, cash flow, scenario testing and "what if".
This speed of analytic capacity is vital to city's key financial thinkers in planning the way out of the current financial morass. That's why we are running a seminar in Dublins IFSC on March 11th to demonstrate this innovative planning advantage.
Priority QUANTRIX Registration: March 11th IFSC Jurys Inn
Research on this topic shows that corporations engage in multiple, parallel planning activities: there are sales plans, operations and demand plans, transportation plans, marketing plans etc. Most don't formally integrate the results of these plans. The closest thing to an integrated plan is the annual budget and the periodic updates. However, there are at least two important issues that prevent spreadsheet-based budgets from being a useful integrated business plans. First, since budgets are mainly concerned with money, much of the non-financial operating detail is omitted - limiting the budget's usefulness in supporting non-financial planning. Quantrix Modeller enables companies to keep track of "things" (headcount by grade, units of bar stock, minutes of machine time, consulting hours and so on) as they construct their models and share this data.
The problem with rolling up and consolidating data from multiple sources in desktop worksheets is that the connection is indirect and not necessarily co ordinated. DataPush addresses this. When changes occur that require an update, DataPush will send out updates of specific pieces of a plan out to every other planning unit (such as a department, division, business unit, etc.). Formally linking the models ensures that accurate, synchronized and up-to-date information is used by all parts of the business. The data also can be pushed into ERP systems, databases or other information sources that can use this data to prepare reports or drive other analyses.
Quantrix launched DATABAV for BI Business intelligence in 2009. MXI research indicates this is a strong business intelligence tool at a new price point level with excellent query, analysis and visualization capabilities to strenghten the core Quantrix Modeller.
This the next move for companies seeking to reduce cost in this area, increase output, put new performance monitoring metrics in place. Forecasting, Modelling, planning, business intelligence, sales & operations planning, budgeting cost can be greatly reduced for planning teams. As well as providing methods for rapid query and analysis with neat navigation and visualization.
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MRP systems (Manufacturing Software, Lean Manufacturing, Stock Control Software) will reduce stock-outs, Carry less stock items in Purchased raw materials, (RAW Materials), improve customer relations, responsiveness and service which means keeping customers and winning new ones. MRP Software and its success depends on the data put into it, and how well it is maintained.
Please contact me to discuss the benefits of ERP Software
The requirements are as follows a) Master production schedule (actual demand, and/or forecasted combined with finite capacity), the BOM (Bill Of Materials) for products demanded, the stock items (on hand, and lead times).
Julie Colcough, Director, Eurobase Ltd "Working with MXI we reduced stock 43% and improved Cash Flow by 19.8%"
All of this is calculated but the MRP engine to determine the most efficient purchasing schedules allowing just-in-time ordering of critical path components which is one of the back bones to manufacturing software enabling lean manufacturing. It can be combined with EOQ (economic order quantity), and bulk ordering (e.g. for rings/fasteners and smaller items).
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The objective is to satisfy the demand without having to carry large amounts of safety stock. Lean manufacturing then kicks in with the Manufacturer needing less cash to run the business. Fewer slow moving items in stock requires less space and manfacturing team members
Productivity starts improving and as you can then schedule purchasing, production, capicity to satisfy demand, seeing needs quicker using less resource increasing customer satisfaction with On-Time deliveries moving towards 90-97%. All because your MRP good manufacturing/ production control and scheduling system is driving lean manufacturing. "What if" business analysis is easy. MRP manufacturing software works well for complex standardised catalogue style products and batch production.
Electronics, Food, Medical Devices, Chemicals, Plastics, Discreet Manufacturing, Engineering, Automotive, Aerospace are examples of good application areas.
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Worldwide indices surged in January 2010 providing evidence of strong recovery in Manufacturing. The Financial Times reported gains on important manufacturing barometers. However when Nicolas Sarkozy boasted of France's recent strong performance it was too much for Madame, she dozed off at an event near Nice.
France is growing at the fastest pace in a decade and the President is taking all the credit. He maintains that French growth is finally poised to use the same technology, for example manufacturing software to replicate the growth the US enjoyed a decade previously. He claims that the Americans used technology such as ERP Software, Supply Chain management softwareoc, stock Software, ERP systems to drive a lean manufacturing explosion and a decade long boom. The President's wife was so interested she soon fell asleep.
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The Institute of Supply Management Index in America, a key measure rose to its highest level since 2004 from 54.9 to 58.4.
Further evidence from ASIA and Europe indicates manufacturers are ramping up production everywhere to meet demand. China continues to outperform, good news from South Korea, Taiwan. India is moving at its fastest clip since 2008 where HSBC PMI index is at 57.7
Even Europe is moving out of the slow lane nice and slowly though not too fast for the old lady. The Eurozone Purchase Manager Index steadily speeding up to a heady 52.4 from 51.6.
Weak Sterling helped UK to its best growth in 15 years and UK Govt stated UK production increased at an annual rate of 5.7% in the last quarter of 2009. Germany and Italy remained strong with even Germany retreating to 2nd place as largest manufactured
goods exports behind China.
The Institute of Supply Management Index in America, a key measure rose to its highest level since 2004 from 54.9 to 58.4.
At MXI Software we specialise in Demand Managment, Forecasting, ERP, MRP Software, Manufacturing Software, Stock software, lean manufacturing. Many of our manufacturing customers are the leaders in their sector.
That's why we provide free White Papers and Resources Free to companies wanting to drive growth and reduce cost. Click Here
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The ECB and Bank of England are keeping rates low, business confidence sags, spending over Christmas lagged seriously not a even a drink could cheer us up we didn't buy any. It's likely that conditions economically are going to remain challenging that delightful phase that slipped into our conscience a decade or two ago.
You can't cut buck the market, you have to cut costs and give the public what it wants when it's ready. And better forecasting is the key.
If we saw a man digging a hole on the road using a beach bucket and spade we would all say he needs a Jackhammer! So why do so many use Spreads***ts for business planning, time series forecasting, modelling, sku sales forecast, inventory predictions, production management, MRP purchasing decisions, trending, seasonality and sales promotions.
Bob the Builder has all gear he needs so why don't you. If you are responsible for managing stock, purchasing, sales projections, demand management, demand planning, forecasting times to stop using s****she**s.
Sales and Operations planning support organisations to deploy resources efficiently and most importantly cash. No point having the spare part in Stockport when it's needed in Shanghai or Spokane in the morning. If it's going to be hot holiday week end, we need lots of Beer, Ice Cream, lettuce, charcoal, gas, beach gear. No good telling the boss Tuesday stock will be in Wednesday.
Forecast Pro is the most successful computer forecasting application ever written. 50,000 licenses sold users such as IBM, Diageo, Ford, BMW, Sony, and hundreds of smaller companies. It does the exponential smoothing, holt winters, extrapolations, using an expert selector. It does the projections you handle business.
We at MXI understand accurate forecasting thats why we give you the chance of a 30 FREE trial. Request your download.
Forecast PRO compared to Spread*****s. Some Facts
- Faster & Accurate first time.
- There is only one methodology in a spre******t, Trendline and it is the least reliable.
- Forecast PRO has 20 and an expert selector.
- 3 time PC Magazine Editors Choice and multiple Insead awards for accuracy
Use MXI Forecast Pro Supply Chain technology. Forecast Pro will improve your sales & operations planning, demand planning, sales forecasting. Users include Johnson & Johnson, Siemens, SIEMENS, UK Treasury, Caterpillar, Irish Airports Authority.
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MRP systems will reduce stock carried in the business and help prevent stock-outs. Lean Manufacturing means less stock, cash and administration to run a manufacturing concern. This improves customer service, sales and reduces costs.
The master production schedule is generated from actual demand and forecasted demand taking into account production capacity. Manufacturing Software for Stock Control usually requires the BOM (Bill of Materials) for all parts. This represents the first step in any Manufacturing system implementation. Good Manufacturing practice requires all of the part rules to be included. For example is it a Purchased Part, Manufactured part. What is the lead time, stock rules, cost. Who are the Supplier's and details for Purchase Order processing etc.
MRP will determine the most efficient purchasing schedules based on the user controlled "Just-in-time" ordering of critical path components. The EOQ (economic order quantity), and bulk ordering (e.g. for fasteners, screws etc). The prize here is carrying less stock, accepting deliveries just in time and getting the items production lines exactly when required. Our best manufacturing practice implementers help mxi customers to get paid before the supplier invoices arrive.
MXI Manufacturing software and experience will improve productivity enabling timely scheduling of materials to satisfy demand, calculate manufacturing capacity to use using less resource, and increase customer satisfaction by improving on-time delivery as high as 97% in many cases.
Manufacturing/MRP/ Stock Control Software implementation. How long does it take?
MXI can help customers in the small to medium manufacturers implement in 13 -18 weeks. Consulting effort is entirely at the user's discretion but depends on budget, needs, scale and scope of the project.
Read White Papers on Manufacturing.
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Nothing like an old fashioned gag to highlight a a truism and it's certainly true to say too many serious business decisions are made with the aid of spreadsheets. Leading British magazine The Economist implicates spreadsheets for the part they played in the international credit crisis.
In talking with prospective customers for our budgeting, modelling, forecasting and analytics products, people say well "We have been using spreadsheets for years, the work is done and the spreadsheets were free with the PC, it would be a waste of money to revisit this ." Or words to this effect.
Understandably they feel this way as there has been a lot of time invested in the spreadsheets.
Mistakes - There is lots of evidence that Spreadsheet are not fit for purpose. Errors in formula's, links to worksheets and too much cut and paste. Many financial market observers (Investors, commentators, Pension Funds) are very surprised to learn that the Markets were using spreadsheets to analyse, control and price risk.
Communication - Spreadsheets are essentially personal yet many organisations are sharing Spreadsheets. The possibility of error grows exponentially as the number of users climbs. Spreadsheets are not easily understood or well documented. It's well known that users force data, change formulas to get things done. And then forget (deliberately or otherwise) to advise these changes properly to others. Some organisations go through very expensive and time consuming spreadsheet re engineering when users leave organisations.
X & Y - Spreadsheets have 2 dimensions only. Above and Across that's it. One line of data down the side and across the top that's all. Most people want to see far more information than that. For example, sales by product, region, customer, year and month. That's very limiting and prevents productive number crunching.
Cost - It is very surprising but most companies have not costed the time spent generating, using, fixing, tracing errors in spreadsheets. In most cases it will far exceed the cost of an investment in a system. Why should using a spreadsheet be exempt from normal performance metrics. If there were used for manufacturing widgets they would have gone long ago!
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Have you ever watched a football match on the TV without the score in the corner. Business needs the same clarity. It might be Stock Turnover, Demand Management, Forecast Accuracy, On time delivery, Production times, Margin control, Quality Control levels.
The objectives are usually easily defined, lower stock, more sales throughput, less administration, better productive use of the plant. When this is all done it will be a quality focussed lean manufacturing implementation.
TIP - CYCLE Count stock regularly
One customer this year really impresed us, Shannon based SMART Electronics use EFACS Manufacuring Software. SMART cycle count 10-30 random parts every day. And it really makes a big difference in their business. This level of precision, discipline and certainty in their system hence their business literally wins them business and reduce costs.
Cycle counting is a Stock count by another name. Randomly select parts every day, check the parts and adjust your Stock Control system until its correct. Watch out it may take a year to complete.
Maybe a lot of work but worth it. No tedious all night counts with Auditors, looking all over the plant to find one item that may have been already used or shipped.
Sometimes using your IT systems features can introduce new process and efficiency gains into your business despite the aggravation with Manufacturing Team Members and Line Managers. We will talk about further examples in future articles. No extra cost just using an existing feature in your system.
One touch recovery of information means customer service enquiries can be dealt with immediately. Is it in stock? When will it be ready? Can you quote it today? At a time when service is vital, simple things done well matter.
Easy as 1,2,3.
- Simplified Better Stock Control
- Cheaper Faster Production
- Reduce Production Times & Increase Output
- Increase Sales
It's not a race
Smaller concerns can achieve a lot in 13 - 18 weeks, Larger Companies need much longer.
- Agree your objectives early with the principles in your business.
- Choose an easy subject matters for early wins (i.e. Sales Orders, Stock Control, Purchasing)
- The bigger the concern give yourselves more time and more modest goals
Further short articles will appear in months to come on how to and the benefits of implementing manufacturing software. Idiots Guide II (name to be changed when we think of it) speaks about off shore manufacture and how your manufacturing software can help.
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Business Forecast Systems in Boston has released the TRAC variant of its Forecast PRO software series. If Forecast PRO were a BMW it would be the 7 Series.
Users such as Toyota, Siemens, IBM, Coca Cola who already use FORECAST PRO for expert statistical forecasting can accellerate and deepen their use of Forecast PRO seriously. TRAC will let them tackle problem forecasting issues quicker and more intensively to meet demand, reduce cost and increase sales.
Forecast PRO TRAC allows all sorts of organisations examine their demand understanding it better and faster. Once the forecasts are agreed by everyone, the results are then integrated into the main Sales/Purchasing forecast and loaded into the ERP system.
Many Sales and Operations Planning, Sales and Supply Chain people find the forecasting element of their job difficult, tedious and boring. Yet getting some accuracy into the projection could be worth millions. Usually there is already a Spreadsheet based planning process which is a derivative of the main ERP System. Spreadsheets are known not to be very accurate.
TRAC hits the sweet spot where an organisation is struggling to meet the planning/demand management/sales and operations planning/ forecasting needs of the business.
TRAC produces statistically accurate forecasts for 1000's of product items instantly (it should do after 20 years), Products Groups, Customers, Territories. Using its new features Forecast PRO TRAC helps planners using the latest TRAC technology and features to improve the accuracy of the entire process dramatically.
TRAC targets the problem predictions, demand planning issues and forecast's much more quickly, accurately hopefully bring the less accurate forecasts upto the level of other better forecasts.
The new Watefall report, demand management capabilities, MAPE reports and Graphical reports afford users the same benefits statisticians enjoy. Greatly improving the Sales & Operations planning, forecasting function within the business.
In an organisation with sales of 100 million this improvement could amount to several million in the first year.
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The latest figures from the Central Statistics Office make grim reading, Production is up across all sectors however the good news can only found in Pharmaceutical, Bio, Life Sciences sectors. These sectors enjoyed an almost unseemly 43% production growth.
And Computers, Electronics and Optical Devices were 47% down.
Food and associated Industries are 7% down as well. I am with Paul O'Connell supporting the Irish Food sector even though he got paid for the Milk advert.
Aggregated values are marginally up however the vital statistic is that National Production in value/Turnover terms is 21.2% lower.
Productivity and Efficiency programmes are required at every level. Clear blue sky thinking is required. Our approach adopted to date needs amending and must effect the productivity gains required to re-establish our natural competitive advantage. It can be done look at Switzerland.
R& D and Technology initiatives increasing business intelligence, leaner manufacturing technologies, reducing cost throughout manufacturing. Funding vehicles are required as the Taxpayer is bust. Tax relief schemes are the most obvious option, Private Equity Vehicles with Tax reliefs attached, A National Productivity Bond with long term rewards and upfront Tax relief. Schemes for all not just the set that formally enjoyed hospitality in Fianna Fail Galway Races Tent.
MXI can provide lean manufacturing applications such as EFACS ERP Integrated Manufacturing, Distribution and Financial ERP Software. Further Alliance/MFG Irelands most successful ever SME Manufacturing Software and Preactor Finite Capacity Management software. We our customers competitiveness, we reduce costs, we drive productivity gains.
Our expert Computers in Manufacturing Consultants will implement these software applications using our established manufacturing improvement methodologies which have customers achieve 40% production gains, 41% Stock reductions whilst increasing production.
Let's not waste this crisis, innovation required. So let's get thinking.
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