CONCORD, Mass., March 25, 2014 (GLOBE NEWSWIRE) -- aPriori, a provider of enterprise product cost management software solutions, today congratulates its customer NACCO Materials Handling Group, Inc. (NMHG) on being a 2014 Manufacturing Leadership (ML) Award winner. NMHG was recognized by the ML Awards panel of expert judges for excellence demonstrated by its project - Enterprise Product Cost Management - in Engineering and Production Technology Leadership. It is one of the awards' most competitive categories.
Now in its 10th year, the ML Awards Program honors companies and individuals that are shaping the future of global manufacturing. The program recognizes transformational business projects in a variety of categories, including product, supply chain, customer value, and enterprise technology leadership.
A leading manufacturer with over $2.5 billion in global sales, NMHG designs, engineers and manufactures a comprehensive line of lift trucks and aftermarket parts. Marketed globally primarily under the Hyster® and Yale® brand names, these are some of the most successful lift truck brands in the industry. The company sets the bar high for designing and delivering world-class products, and product quality and cost management have always been key measures. From concept to launch, every new product follows a carefully structured and staged development process.
With its Enterprise Product Cost Management project, NMHG was looking for new ways to streamline its product development process and offset rising costs of materials while maintaining efficient production schedules. It wanted to accelerate the time it took to design and deliver profitable new products and parts to market. Leveraging aPriori's software platform, NMHG enabled its design engineers to quickly and easily compare the cost of different product design alternatives and understand the cost impact of different design options. As changes are made, or new product specs are introduced, the software automatically re-assesses and provides an updated product cost quickly and easily. This opened up a whole new set of cost optimization alternatives for NMHG and enabled its engineers to evaluate more design options without delaying time to market. It also created more accountability for cost earlier in the product development process. The software also leverages product cost data hosted in other critical enterprise applications to communicate product cost information between all functional organizations involved in product definition and delivery. This includes the import of complex engineering Bills of Materials (BOMs) from ERP, PLM or other enterprise applications.
NMHG and the other recipients of the ML Awards will be honored at the Manufacturing Leadership Summit, June 3-5 2014 at the Breakers Resort in Palm Beach, Fla.
About the Manufacturing Leadership Community
The Manufacturing Leadership Community, part of Frost & Sullivan, offers an integrated portfolio of leadership networking, information and professional development products, programs, and services for industrial executives worldwide. MLC's mission is to help senior executives define and shape a better future for themselves, their organizations and the industry at large. MLC's portfolio consists of the Manufacturing Leadership Community website, an online global business network; the Manufacturing Leadership Council, an invitation-only executive organization; the annual Manufacturing Leadership Summit conference; the Manufacturing Leadership Awards program; and the Manufacturing Leadership Journal. For more information, visit us at http://www.gilcommunity.com/groups/manufacturingleadership/.
aPriori software and services generate hard-dollar product cost savings for discrete manufacturing and product innovation companies. Using aPriori's real-time product cost assessments, employees in engineering, sourcing and manufacturing make more-informed decisions that drive costs out of products pre- and post-production. With aPriori, manufacturers launch products at cost targets, maximize savings in re-work projects and avoid overpaying for sourced parts. To learn more about aPriori and its product cost management solutions and services, visit www.apriori.com or call 1.978.371.2006. To see an overview demonstration of aPriori, click here.
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