QAD Tomorrow Thought Stream Identifies Supplier Management Challenges and Provides Best Practices for Optimizing Supply Chains for Efficiency, Agility, and Resilience
QAD Inc. (Nasdaq: QADA, QADB) recently hosted its QAD Tomorrow global thought stream, focusing on optimizing supply chain management for manufacturers. The event featured discussions on supplier management challenges and introduced the Integrated Supplier Management Diagnostic Tool, designed to assess and enhance supplier relationships. CEO Anton Chilton emphasized the need for real-time data to navigate supply disruptions effectively. With over 2,000 manufacturers relying on QAD's solutions, the company aims to enable businesses to adapt and thrive amidst ongoing market changes.
- Launch of the Integrated Supplier Management Diagnostic Tool to enhance supply chain efficiency.
- QAD's focus on addressing supplier management challenges aligns with increasing global supply chain complexities.
- Participation from industry experts and customers during the QAD Tomorrow event showcases QAD's engagement with the manufacturing sector.
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QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies, held its QAD Tomorrow global thought stream, helping manufacturers identify supplier management challenges and providing best practices for optimizing supply chains for efficiency, agility, and resilience. QAD also announced the availability of the Integrated Supplier Management Diagnostic Tool that can help manufacturers quickly understand the levers that lead to better supply chain outcomes.
"Supply networks and supplier relationships are complex but increasingly critical to global manufacturing success. Customer demands change, shortages occur, and sometimes ships get stuck in the Suez Canal, causing a ripple effect through an already fragile supply chain," said QAD CEO Anton Chilton. "When something in your ecosystem changes or suppliers experience a failure of any kind, your company needs to adapt fast. If you have a reliable flow of real-time demand and supply data during disruption events, you can quickly communicate adjustments with suppliers and your customers and can recover. Success, and even survival, of your business requires that your supplier network maximizes efficiency today and also has the agility to handle tomorrow's disruptions."
QAD Tomorrow streamed globally on May 19. Participants heard from QAD CEO Anton Chilton and CMO Carter Lloyds as well as QAD customers and industry experts discussing common supplier management challenges and outlining best practices for overcoming them. You can watch a recording of QAD Tomorrow by following this link. To access the Integrated Supplier Management Diagnostic Tool, follow this link, email tomorrow@qad.com, or call 805-566-6100.
"With disruption affecting manufacturing supply chains worldwide, smart managers have begun to give their relationships with their suppliers the attention they deserve and QAD can provide the tools to help them prepare for change,” said QAD CMO Carter Lloyds. “The manufacturing companies that attended this thought stream illustrate the growing importance that management is now giving to cultivating and maintaining relationships with their suppliers."
Integrated Supplier Management
While Tomorrow 2020 introduced QAD's vision for an Adaptive Manufacturing Enterprise, this year's thought stream focused on one of the five crucial capabilities of an Adaptive Manufacturing Enterprise - Integrated Supplier Management - which helps manufacturers rapidly respond to supply disruptions and reduce supply chain risk.
Integrated Supplier Management creates value for manufacturers by improving supplier collaboration, enabling optimal sourcing and deploying digital source-to-contract solutions. QAD offers a number of solutions, including QAD Supplier Management, QAD Sourcing, and QAD Supplier Portal, that facilitate real-time communication between manufacturers and suppliers while also eliminating manually intensive processes.
The Integrated Supplier Management Diagnostic Tool
QAD Tomorrow also debuted the Integrated Supplier Management Diagnostic Tool designed to help manufacturing companies measure the state of their current supplier relationships and identify ways to quickly optimize supply chain efficiency, agility, and risk. The 12-question assessment helps customers understand the levers that lead to better supply chain outcomes in the areas of delivery, costs, quality, sustainability, and continuity, and prioritize projects with the highest, most rapid returns.
The results of the Integrated Supplier Management Diagnostic Tool place manufacturers' supplier management capabilities in one of four categories in the Integrated Supplier Management Maturity Model, which can help manufacturing companies begin to answer the following questions:
• Are my company's suppliers ready to respond quickly to and effectively deal with disruption?
• How does my company compare to an Adaptive Manufacturing Enterprise with Integrated Supplier Management?
• What can my company do to enhance supplier relationships to maximize supply chain performance?
About QAD – Enabling the Adaptive Manufacturing Enterprise
QAD Inc. is a leading provider of adaptive, cloud-based enterprise software and services for global manufacturing companies. Global manufacturers face ever-increasing disruption caused by technology-driven innovation and changing consumer preferences. In order to survive and thrive, manufacturers must be able to innovate and change business models at unprecedented rates of speed. QAD calls these companies Adaptive Manufacturing Enterprises. QAD solutions help customers in the automotive, life sciences, consumer products, food and beverage, high tech, and industrial manufacturing industries rapidly adapt to change and innovate for competitive advantage.
Founded in 1979 and headquartered in Santa Barbara, California, QAD has 30 offices globally. Over 2,000 manufacturing companies have deployed QAD solutions, including enterprise resource planning (ERP), digital supply chain planning (DSCP), global trade and transportation execution (GTTE), quality management system (QMS), and strategic sourcing and supplier management, to become an Adaptive Manufacturing Enterprise. To learn more, visit www.qad.com or call +1 805-566-6100. Find us on Twitter, LinkedIn, Facebook, Instagram, and Pinterest.
"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the company's business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company's current expectations. Words such as "expects," "believes," "anticipates," "could," "will likely result," "estimates," "intends," "may," "projects," "should," "would," "might," "plan" and variations of these words and similar expressions are intended to identify these forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: risks associated with the COVID-19 (novel coronavirus) pandemic or other catastrophic events that may harm our business; adverse economic, market or geo-political conditions that may disrupt our business; our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company's products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third-party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment. For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company's latest Annual Report on Form 10-K and, in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.
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