Ivalua, a global leader in spend management, today announced a range of new innovations that enable direct material procurement and supply chain leaders to launch more profitable, successful products. The new capabilities are available now as part of Ivalua's latest platform release. These include new Advanced Product Quality Planning (APQP) and New Product Introduction (NPI) capabilities, as well as enhancements to its existing Bill of Materials (BOM) Lifecycle Manager.
Ivalua counts many of the world's leading manufacturers as customers, including Whirlpool, Michelin, Flex, Chassis Brakes International, Danieli, Hutchinson, to name a few. The new innovations extend the leadership of Ivalua's solutions for Manufacturing and Direct Materials.
Ivalua's BOM Lifecycle Manager enables teams managing direct materials spend to work collaboratively to design and deliver products that meet quality requirements, delight customers, and yield maximum profitability. The new capabilities enable visibility of common components across multiple Bill of Materials imported from PLM and ERP systems. Customers can better understand the potential volume impact and cost savings versus potential risks of using the same components across many products.
Ivalua's new product quality capability provides customers with a proven quality management process, called APQP. This process is common in Automotive and other manufacturing industries to ensure that selected suppliers are capable of meeting product quality requirements, and allows program managers and category managers to identify, document, and mitigate potential issues and risk with proper audit standards.
Finally, with Ivalua's NPI capability, cross-functional teams can effectively organize, collaborate, plan and track all activities to ensure a successful product launch.
"Manufacturers face significant and complex challenges to ensure their products are launched on time, on budget and meet the highest possible quality standards," said Pascal Bensoussan, Chief Product Officer. "Ivalua's BOM Lifecycle Manager and the new APQP and NPI capabilities are part of a series of coordinated platform enhancements allowing procurement teams to improve margins, time-to-market and meet quality requirements via a collaborative, efficient and transparent process involving all key stakeholders."
Ivalua is the Procurement empowerment platform. Recognized as a Leader by Gartner and other analysts, Ivalua's Source-to-Pay suite is leveraged by over 300 leading companies across the globe to manage over $500B in direct and indirect spend. The platform's combination of ease-of-use, depth, breadth, and flexibility ensures high employee and supplier adoption, rapid time to value and the ability to meet unique or evolving requirements, evidenced by the industry's leading 98%+ retention rate. For more information, visit www.ivalua.com.