Timken Deploys Ultriva Lean Manufacturing Software
Electronic Kanban software products improve on-time delivery performance to its customers, reduce inventory, and eliminate stock-outs
Cupertino, CA -- (ReleaseWire) -- 05/15/2006 --Ultriva Inc., the world leader in lean manufacturing software, today announced that the Timken Company (NYSE: TKR) has selected Ultriva’s Electronic Kanban products for use in its European Automotive Group. Timken is deploying Ultriva's Electronic Kanban software products to improve on-time delivery performance to its customers, reduce inventory, and eliminate stock-outs with its suppliers. Timken has initially deployed Ultriva’s hosted, on-demand lean manufacturing software at its Kunsebeck, Germany bearing plant.
The implementation follows the Timken Kunsebeck plant’s successful pilot with Ultriva's lean software across three of its suppliers, which began in May 2005. Implementing Ultriva’s lean manufacturing software, which replaced traditional purchase order processes, has already resulted in lead-time reductions of more than 30 percent, the elimination of many stock-outs and significant inventory reductions. Based on pilot results, Timken’s Kunsebeck plant is targeting a 20 percent reduction in inventory and inventory carrying costs in 2006. The company also anticipates significant reductions in expediting, storage space, lead times, and overtime, as well as increased buyer and planner productivity.
“After speaking with some exceptionally strong customer references, we decided to pilot Ultriva, said Knute Hankins, Timken Automotive Group Director of Lean Manufacturing. After achieving quantifiable cost reductions and streamlined operations with the pilot, we decided to significantly expand our use of the software. We also expect that Ultriva will help improve coordination between our European facilities, which will improve our responsiveness to changes in customer demand.”
"We're proud to be able to help a worldwide leader like Timken accelerate its lean initiatives," said Ashley Stirrup, CEO of Ultriva, Inc. “Cost reduction and improved on-time delivery performance are key drivers for today’s tier one automotive suppliers. Timken is at the forefront of Lean as it uses software to drive bottom line results.”
Ultriva Electronic Kanban provides an integrated portal for manufacturers and their suppliers to:
· Improve supplier on-time delivery performance by enabling better collaboration and data sharing between buyers and suppliers.
· Improve buyer and planner productivity by automatically flagging and communicating new and changed orders to suppliers, eliminating unreliable communications by fax or email.
· Eliminate stock-outs by tracking order status and proactively alerting buyers to high-risk situations.
· Reduce inventory levels by providing better inventory on-hand data and continuous improvement analytics
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