NASDAQ OMX

Rafael Selects aPriori for Product Cost Management

20.6.2017 15:00 | NASDAQ OMX

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Leading Manufacturer of Advanced Defense Systems to Leverage PCM to Identify Cost Drivers and Improve Supplier Negotiations

CONCORD, Mass., June 20, 2017 (GLOBE NEWSWIRE) -- aPriori, the leading provider of automated product cost management (PCM) software solutions, has been selected by Rafael Advanced Defense Systems, a leading worldwide manufacturer and provider of military defense products and related services.  Rafael will start their implementation of aPriori at their design and engineering center in Haifa, and will be growing their deployment across their enterprise over the course of the multi-year program.

Rafael is one of Israel's largest defense companies, with 2016 sales of $2,166 million, an order backlog of $5,651 million and a net profit of $123 million.  They develop and manufacture advanced defense systems for the Israeli Defense Forces and the defense establishment, as well as for foreign customers around the world. Rafael offers its customers a diversified array of innovative solutions at the leading edge of global technology, from underwater systems through naval, ground, and air superiority systems to space systems.

"Rafael has several key objectives they wish to accomplish through this strategic partnership with aPriori," said Ofer Abraham, Project Manager in R&D and Engineering Division.  "Our aim is to reduce cost driven changes late in the design cycle by identifying cost-drivers in the early concept and preliminary detailed design stages.  We also work with a large network of suppliers, and we will be using aPriori to generate cost estimates with detailed manufacturing data that allows us to negotiate more cost effective agreements with these suppliers."

aPriori's product cost management platform will provide Rafael's design and sourcing teams with real-time cost estimates on parts and products in design. The software leverages CAD and intelligent cost models to quickly determine feasible manufacturing methods and product costs while generating detailed manufacturing analysis and cost estimates that quantify the impact of changes to product design, materials, manufacturing processes, volumes and location in real time. aPriori will also provide the Rafael procurement and sourcing teams with regional cost benchmarks based on the company's specific product requirements, enabling it to collaborate more effectively with its suppliers.

"aPriori product cost management software takes the guess work out of what a new product design will cost when it gets into production, or what a sourced part should cost from a supplier in a particular region," said Stephanie Feraday, President and CEO of aPriori.  "What our customers say most often is that our ability to generate an accurate, detailed cost estimate in real-time not only helps them identify and mitigate cost drivers early in the process, but it helps them accelerate time to market by eliminating the latency they historically see with their manual cost estimating systems."

About Rafael Advanced Defense Systems, Ltd.
Rafael designs, develops, manufactures and supplies a wide range of high-tech defense systems for air, land, sea and space applications for the Israeli Defense Forces and the defense establishment, as well as for foreign customers around the world. These systems include air defense systems such as "Iron Dome" and "David's Sling", active protection systems such as "Trophy", air-to-surface systems, precise, electro-optical, multi-purpose missiles, and many others. Rafael has also built Israel's national cyber emergency response center. Rafael is the largest employer in Northern Israel with over 7,000 employees and numerous subcontractors and service suppliers.  For more information, visit Rafael's corporate website.

About aPriori
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.

aPriori on Twitter @aPriori_Inc.
aPriori on LinkedIn Product Costing Blog

aPriori and aPriori Technologies are registered trademarks of aPriori Technologies Inc. All other trademarks, registered trademarks or service marks belong to their respective holders.

CONTACT:
Rick Burke
Vice President, Marketing
rburke@apriori.com
978.451.7675
 
 



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: aPriori Technologies via Globenewswire

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