Aerospace Manufacturers Using Production Forecasting Can Reduce Lead Times
Aerospace manufacturers deal with some of the strictest production schedules of any industry and rely on a wide variety of tools to provide on-time delivery. One of the most critical of these tools is production forecasting, which takes into account historic business cycles and uses statistical algorithms to extrapolate when a new production run of a particular part will be required. This process assists in material requirement planning, demand management and production scheduling, to help companies maintain minimal inventories and operate efficiently.
Production forecasting for many aerospace manufacturers is handled through ERP/MRP software, such as Epicor Vantage or a similar program. These systems can draw information from a wide variety of sources, including company records as well as imported data from manufacturers at upper and lower tiers. In fact, e-Kanban systems and EDIs have made exchanging and integrating forecasting data from companies across all verticals in a supply chain easier than ever before. Armed with this information, aerospace manufacturers can spot trends in materials shortages and peak demands, and then compensate for them appropriately. By ensuring materials and resources will be on hand when needed, aerospace manufacturers can begin fabrication with minimal lead times, consequently making on-time and just-in-time deliveries far easier to achieve.
At Intrex Aerospace, production forecasting through our Epicor Vantage system is just one of the many tools we use to maintain a lean and efficient aerospace machning operation. Our extensive use of forecasting information with our customers through our EDI helps us to maintain efficient lead times and an on-time delivery rate of 95 percent or higher.
For more information on what sets us apart from other aerospace manufacturers, contact us today.