Forma will also implement QAD Automation
Solutions at facilities in the United States and Mexico
QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of
adaptive, cloud-based enterprise software and services for global
manufacturing companies, today announced that Forma Automotive will
upgrade to the latest version of QAD Adaptive ERP and deploy it in
the QAD Cloud. Forma is also implementing QAD Automation Solutions
to automate inventory transactions.
San Antonio, Texas-based Forma Automotive belongs to the Santana
Group of companies. It has been a QAD customer since 2015 and
leverages QAD ERP solutions at automotive manufacturing facilities
in the United States and Mexico. Forma is the first Hispanic,
woman-owned direct tier I supplier to Toyota and was launched in
2014 to provide fully assembled Tacoma truck beds at Toyota Motor
Manufacturing Texas. Today, Forma specializes in outsourced
manufacturing and quality solutions in addition to providing
quality goods and services to Toyota.
Experiencing accelerated growth, Forma needed the ability to
produce faster, more accurate forecasts for MRP while staying
aligned with rapidly changing industry best practices to keep pace
and position itself for further expansion in 2021. After a
successful QAD implementation at Forma’s facility at Toyota’s new
plant in Guanajuato, Mexico, Forma reviewed its systems to devise a
strategy to handle its anticipated growth. As a result, Forma
decided to move their ERP infrastructure to the cloud, taking
advantage of the scalability, reliability and security provided by
QAD.
“Forma’s new manufacturing project required the ability to
manage a much more complex environment than that of our current
production program,” said Forma General Manager Jose Peralta.
“Everything from our total number of components, number of
variations, our customers’ release strategy, our number of
locations and the required production rate, grew exponentially in
complexity. We turned to QAD and QAD Channel Partner Strategic
Information Group for a solution and went through their discovery
process. This led to their final proposal, which met our
requirements and timing expectations.”
“This project happened because a longtime customer was happy
with the QAD solution and with the years of support provided by
QAD’s partner, Strategic Information Group,” said QAD Senior Vice
President, North America Mike Brunnick. “This strong relationship
combined with past project success gave Forma the confidence to
move to the QAD Cloud. We believe that the cloud is a strategic
decision, not just an implementation option. The long-term benefits
of the cloud, allowing companies to scale quickly, providing
improved uptime and overall security, make it a smart choice for
manufacturing companies, especially global companies like Forma
with facilities in more than one country.”
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.
About Forma Automotive
Forma Automotive, a Santana Group company, is the first
Hispanic, woman-owned direct tier I supplier to Toyota. Launched in
2014, Forma provides fully assembled Tacoma truck beds to Toyota
Motor Manufacturing in San Antonio, Texas, and Guanajuato, Mexico.
Today, Forma has expanded its services to include outsourced
manufacturing and quality solutions to companies in the United
States and Mexico. Committed to continuous improvement and
innovation, Forma Automotive brings together the ideal combination
of manufacturing experience, operational discipline, and human
resources expertise to meet the needs of each customer, locally,
nationally and internationally. For more information visit
www.formaautomotive.com.
About Strategic Information Group
Strategic Information Group (SIG), headquartered in
Cardiff-By-The-Sea, CA, helps companies achieve their corporate
goals with the application of enterprise technology. We specialize
in providing proven solutions for a full range of enterprise
applications including QAD Adaptive ERP, CRM, and Quality
Management. SIG works with start-ups, multinationals and market
leaders to implement their systems on time and on budget, helping
them maximize the value of their enterprise technology.
www.strategic.com.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210406005230/en/
QAD Inc. Scott Matulis Public Relations 818-451-8918
publicrelations@qad.com or Evan Quinn Analyst Relations
617-869-7335 industryanalyst@qad.com
QAD (NASDAQ:QADA)
Historical Stock Chart
From Jul 2024 to Aug 2024
QAD (NASDAQ:QADA)
Historical Stock Chart
From Aug 2023 to Aug 2024