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Feb. 19, 2013 /PRNewswire/ -- Executives from Saphran Solutions and Illinois Tool Works (ITW) will discuss how Saphran has helped ITW develop and manage market forecasts taking into account supply-chain turbulence at the Institute of Business Forecasting and Planning's Supply Chain Planning and Forecasting Conference,
Saphran's software allows ITW to integrate market forecasts with data from the company, its customers and suppliers to improve production schedules and forecasts, according to
Gwen Steinmetz, global Ford business manager for ITW's Global Automotive Fastener Group.
ITW implemented Saphran systems across multiple operations with different internal planning systems to operate with common global business processes. The new program provides ITW with integrated views of data across various platforms which enables ITW to react in an efficient and more timely manner to changing business and market conditions.
ITW manufactures numerous products in seven business segments, operating from 840 business locations in 58 countries.
Saphran is a leader in the design of systems to manage an entire business cycle, including closed-loop predictive analytics for a company's current enterprise systems and for planning, quoting, costing and forecasting, according to
Ken Bassey, Saphran's founder and CEO.
Bassey notes that Saphran provides active business management systems with data synchronized to current and future product structure, platforms and product models. Time frames and attributes for analysis are flexible and modifiable, and closed-loop integration brings together external market forecast data with current operations data to predict future demand and anticipate risk. The system is flexible to help companies diversify and expand without investing in new processes and systems.
Saphran systems can maintain a rolling composite forecast, combining historical, short-term and long-term information and forecasts. They produce a consensus forecast with current business conditions updated in realtime in a collaborative manner with the latest business information and market intelligence available.