aPriori, a provider of enterprise product cost management software solutions, was named one of Gartner's Cool Vendors in Product Design and Life Cycle Management for 2013. The company was recognized based on the ability of its software to predict the impact of design, manufacturing and sourcing choices on product cost earlier than previously achievable and to enable manufacturers to translate that knowledge into greater profits, innovation and faster time to market.
The list of Cool Vendors is designed to highlight interesting, new and innovative vendors, products and services. aPriori was one of just five companies recognized in the Product Design and Life Cycle Management category by Gartner. Specifically, the report called out aPriori's automated approach to product cost analysis vs. conventional manual approaches used by most manufacturers today. According to the report, these manufacturers miss opportunities for cost savings because they cannot conduct their manual analysis until after most of the product costs are already locked in.
aPriori's Product Cost Management software platform helps companies attack cost at the point of origin by equipping design, engineering, sourcing and manufacturing professionals with the knowledge and technology infrastructure to quickly and precisely determine the cost of a part or complete product. The software leverages computer-aided design and intelligent cost models to quickly and automatically generate detailed manufacturing analysis and cost estimates and quantify the impact of changes to product design, materials, manufacturing processes, volumes and location. The software also enables users to leverage 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.
"We obviously think that our ability to automate the product cost analysis process is pretty important and we're very pleased that Gartner does as well," said Stephanie Feraday, president and CEO of aPriori. "The impact we have for discrete manufacturers is what really matters though - optimizing for design, manufacturability and cost before products get into production and translating that into huge ROI in the form of reduced cost of goods, faster time to market and increased product innovation."
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