Improving Commercial and Manufacturing Processes with the Power of Epicor Kinetic
FARAD S.A. Heat Exchangers, based in Greece, has been designing and manufacturing high-quality marine and industrial tubular heat exchangers since 1979. The company is known for excellency and high quality in every aspect of the production from the raw materials to the end products and the aftersales supports. FARAD accomplishes this by selecting the best raw materials and applying modern manufacturing processes to ensure production flexibility and total quality control, without any compromise. Despite standard products can provide tailor made solution that perfectly fits customer needs. Covers a wide variety of industries like marine, petrochemical, energy, food and beverage, HVAC & Refrigeration.
FARAD selected Epicor Kinetic to fully automate its pre-costing process, allowing the board of directors to manage costs more efficiently and gain immediate insight into individual cost elements such as raw material cost, according to the London Metal Exchange or FIFO, labor cost and sub-contract cost. This has accelerated the company’s decision-making process and flexibility as they can more easily adjust retail prices, add services and apply possible alternatives.
After implementing Epicor Kinetic the production department can execute and monitor the entire production process, improve product line planning, achieve a better balance between resources and features, and adjust production based on customer orders. The adjustments to product specifications can be easily applied reflecting automatically updated cost information.
"The implementation of Epicor Kinetic significantly improved coordination between sales and production teams, since it provided a real-time view of the manufacturing process. Moreover, Epicor Kinetic helped us minimize workflows idle times and data entry errors, accelerate the decision-making process, and consolidate more than 700 production methods into five product configurators."—Evangelos Fanouriadis, Production Director and co-founder at FARAD Heat Exchangers S.A
Production planning within Epicor Kinetic provides FARAD with an accurate, real-time view of their manufacturing process so they can proactively manage their operations with confidence. Embedded business process management provides the flexibility they need to drive production costs down, deliver products at specified quality levels and meet schedule commitments.
The implementation of Epicor Kinetic significantly improved coordination between sales and production teams, since it provided a real-time view of the manufacturing process. Moreover, Epicor Kinetic helped us minimize workflows idle times and data entry errors, accelerate the decision-making process, and consolidate more than 700 production methods into five product configurators.
They can even incorporate the subcontractors’ and suppliers’ production schedules into the production cycle so they fully interact with the factory, avoiding delays and having full control of production progress.
Most of the raw materials the company uses are industrial metals traded at the London Metal Exchange (LME). Using advanced algorithms, Epicor Kinetic provides continuous, real-time product and raw material prices, allowing FARAD to achieve the best rates. For non-LME supplies, the procurement procedure includes supplier requests to authorized suppliers, tender workflow and bid evaluation criteria up to the delivery of goods.
With Epicor Kinetic in place FARAD now has a 360-degree view of production costs, right down to order level, financial results and comparisons with the budget. In addition, each department can build reports and dashboards to ensure performance and maximize results. This helps FARAD staying successful and competitive both now and well into the future.
