IFS Applications 8 strengthens the modern supply chain
IFS, the global enterprise applications company, has recently launched the new version of its extended ERP suite, IFS Applications™ 8. The new version includes advanced features in the fields of trade management, inventory planning and warehousing that have been developed in close collaboration with early adopter customers.
As trade is becoming increasingly globalized and trade barriers are being dismantled, companies find themselves exposed to competition from a multitude of sales channels worldwide. Within this extremely competitive arena, price transparency is driving the need for efficient and flexible business solutions that can handle segmentation of customers and prices, thereby ensuring consumer loyalty and profitable growth.
The new Trade Management feature in IFS Applications 8 enables retailers, wholesalers, distributors and manufacturers to offer customers discount and rebate models that are becoming increasingly common within the industry. Companies can thereby influence customer purchasing behaviors by means of campaigns and promotional discounts. IFS Applications 8 is also equipped with features that support retroactive customer rebates, automatic calculation of freight charges, and the ability to handle pack size-dependent charges and discounts.
The new inventory planning component in IFS Applications 8 allows for differentiated planning to strike a balance between product availability and operational cost. For example, users can define a policy that stipulates that two weeks of inventory must be maintained at all times. The Inventory Planning component is integrated with IFS Demand Planning, which means that the inventory levels will respond to seasonal changes, campaigns and trends.
An important part of any supply chain is efficient and intelligent warehousing. In IFS Applications 8, the warehousing component has been significantly enhanced to support advanced inventory put-away, efficient warehouse navigation, powerful warehouse reporting and serial reservation logic. With the new feature for minimum remaining shelf life, companies handling products with limited shelf life are able to guarantee a certain shelf life when the products arrive at the customer’s. In this way, the system ensures that there is time for the vendor to stock and sell the product, and for the customer to consume it.
“Supply chain is one of our core processes and one which represents a long-term product development focus. The Trade Management component is a good example of how IFS is responding to changing market demands and how we are incorporating innovative solutions to industry challenges by working closely with customers within this varied sector,” said Thomas Säld, VP Research & Development, IFS.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on industries where any of four core processes are strategic: Service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in approximately 60 countries with 2,800 employees in total. Net revenue in 2011 was SKr 2.6 billion.
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