10/14/2011 2:09:00 AM
NEWS BRIEFS
Richco Inc. Reduces Inventory by 25%
Ricco Inc., a global manufacturer of plastic fasteners and other components, will go-live with IFS Applications, the enterprise resource planning (ERP) solution of record, at its Italian subsidiary.
Headquartered in Morton Grove, IL, Richco supplies quality cable management, board management, and fiber management products.
“With the implementation of IFS applications, Richco has achieved a number of efficiencies, including a 25% reduction in inventory and reduced administrative time to handle intracompany orders — a major part of its business, which operates through multiple subsidiaries in North America, Europe, and Asia.
“The centralized visibility of inventory levels at each of our locations around the globe lets us make much more informed decisions about how much inventory we need to keep relative to sales,” Richco Director of Global Information Technology David Bryan said. “We are able to identify regional centers for handling resupplying. Purchasing and manufacturing decisions are simplified.”
Richco’s ERP solution must also support multiple languages, currencies and other country-specific requirements for countries such as the U.S., Germany, Italy, the United Kingdom, Malaysia and Finland.
“We are a middle market company with challenges more typical of big companies,” Bryan said. “We have a global presence, so we have a lot of big company issues even though our total number of employees globally is about 500. We need ERP that will support us doing business in all of these countries.
“We also have a very strong emphasis on lean here and we need software that supports our lean initiatives. Very large ERP vendors like SAP and Oracle will have all of the international standards and support for lean, but even if a middle market company could afford them, they would still need to consider the commitment involved with implementing these solutions. IFS has a fully functional ERP package that is affordable, flexible, and has a good reputation for implementing in a reasonable amount of time.”
Richco Inc. provides innovative design solutions to meet a wide range of fastening and routing requirements with focused engineering and manufacturing expertise through its manufacturing facilities in the U.S., UK, Spain, and China. Web: www.richco-inc.com ©2011 GlobalFastenerNews.com
Ricco Inc., a global manufacturer of plastic fasteners and other components, will go-live with IFS Applications, the enterprise resource planning (ERP) solution of record, at its Italian subsidiary.
Headquartered in Morton Grove, IL, Richco supplies quality cable management, board management, and fiber management products.
“With the implementation of IFS applications, Richco has achieved a number of efficiencies, including a 25% reduction in inventory and reduced administrative time to handle intracompany orders — a major part of its business, which operates through multiple subsidiaries in North America, Europe, and Asia.
“The centralized visibility of inventory levels at each of our locations around the globe lets us make much more informed decisions about how much inventory we need to keep relative to sales,” Richco Director of Global Information Technology David Bryan said. “We are able to identify regional centers for handling resupplying. Purchasing and manufacturing decisions are simplified.”
Richco’s ERP solution must also support multiple languages, currencies and other country-specific requirements for countries such as the U.S., Germany, Italy, the United Kingdom, Malaysia and Finland.
“We are a middle market company with challenges more typical of big companies,” Bryan said. “We have a global presence, so we have a lot of big company issues even though our total number of employees globally is about 500. We need ERP that will support us doing business in all of these countries.”
“We also have a very strong emphasis on lean here and we need software that supports our lean initiatives. Very large ERP vendors like SAP and Oracle will have all of the international standards and support for lean, but even if a middle market company could afford them, they would still need to consider the commitment involved with implementing these solutions. IFS has a fully functional ERP package that is affordable, flexible, and has a good reputation for implementing in a reasonable amount of time.”
Richco Inc. provides design solutions to meet a range of fastening and routing requirements with focused engineering and manufacturing expertise through its manufacturing facilities in the U.S., UK, Spain, and China. Web: richco-inc.com ©2011 GlobalFastenerNews.com
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