This is an IFS 2015 liveblog which means everything was written at-the-moment.
Hexpol Gaskets seems to be doing pretty well in the gasket industry (it means ‘mechanical seal’). According to Michael Grindborn, the company’s impressive Financial Director, the Swedish company – which has been using IFS Applications for nearly 15 years – is an example of BI done well.
This part of the Hexpol Group, with operations in Sri Lanka and China, has progressively embedded the IFS system into its business model, to seemingly great affect.
It’s part of the strategy. Upgrade every two to three years, reduce the number of customisations (72 all the way down 2 in just the last four years) and by doing that keep costs low.
This is what he calls “the obvious financial advantage.”
BI is the favoured IFS Application of Grindborn, and says it has helped made more efficient financial reporting, as well as orders, delivery performance data, inventory documents.
He also likes the stock control capability – the live information on raw materials, compounds and finished goods per warehouse.
All of this put together has allowed more time to optimise the business, to analyse data instead of input it. And now it’s the market leader in terms of delivery performance and lead times (98%).
With keeping costs low and return high, and efficiency higher still, this is an example of a company knowing exactly how it wants to employ IFS.