[March 30, 2015: New Bedford, MA] Epec Engineered Technologies, a leader in designing and manufacturing custom build-to-print electronic products, has been recognized with the 2015 Manufacturing Leadership Award (ML Award) in Innovation Process Leadership from the Manufacturing Leadership Council, a member-driven, global business network dedicated to senior executives in the manufacturing industry. The awards are given to companies and individuals that have undertaken breakthrough projects in manufacturing as determined by an expert panel of judges. The Innovation Process Leadership award recognizes Epec's transformation with an IT and business modernization initiative using cloud-based ERP technology that has enabled lean, agile manufacturing and supply chain execution, while improving business efficiency and scalability for global growth.
Epec's transformation got under way in 2007 when the company replaced an outdated, inflexible on-premise ERP application with NetSuite (NYSE: N), the industry's leading cloud-based business management suite. With NetSuite, Epec gained an end-to-end design, manufacturing and business platform for production of custom battery packs, flex and rigid-flex circuits, user interface products, electronic fans & motors, cable assemblies, and printed circuit boards. As a cloud application, NetSuite gives Epec personnel at headquarters in Massachusetts and facilities in the UK, China, Colorado and Florida 24/7 access to design and production workflows. Epec has augmented its NetSuite-based manufacturing environment with Autodesk PLM 360, a cloud product lifecycle management (PLM) solution from NetSuite partner Autodesk to streamline and control complex build-to-order work.
"We're incredibly honored to be recognized with a prestigious Manufacturing Leadership Award," said Epec CEO Ed McMahon. "Our success illustrates what manufacturers can accomplish by embedding lean and innovative practices across the organization. NetSuite has been a huge part of that for us—NetSuite gives us an advantage over our competitors who still do things the old way with spreadsheets and disparate applications."
In another innovation, Epec uses an online configure-price-quote (CPQ) engine from NetSuite partner Selectica to enable customers to configure build-to-print circuit boards over Epec's ecommerce website InstantPCBQuote, reducing lag time and manual steps for both Epec and its customers while providing a complete record of specifications and transactions.
NetSuite cloud ERP and complementary solutions have played an important role in growth at Epec, with more than 5,000 customers around the world, including GE, Philips, Siemens, Raytheon, Tesla, Dolby, Honeywell, Lockheed Martin and Northrop Grumman. Since implementing NetSuite in 2007, Epec's revenue has increased 233 percent. The NetSuite cloud ERP solution has also been instrumental in enabling Epec to rapidly assimilate seven acquired companies, while making software customizations for improved business efficiency that were virtually impossible in its previous environment.
The company has saved four full-time personnel previously required at partner facilities in China while netting return on investment (ROI) of more than $500,000 from its investments in cloud technology since 2007. Reporting that took weeks is now accomplished in a matter of minutes, while sales personnel have doubled daily sales quote volume without additional staff. Building on its success, Epec in December 2014 completed the addition of 4,000 square feet of new manufacturing space for production of custom battery packs and energy-efficient fans and motors at its Massachusetts headquarters, bringing the facility to 24,000 square feet.
"The Manufacturing Leadership Awards Judges were very impressed with how Epec Engineered Technologies aggressively adopted new technologies to transform operations for better efficiency and innovation," said Jeff Moad, research director and executive editor at Frost & Sullivan's Manufacturing Leadership Council. "With considerable help from NetSuite, Epec has been able to focus on customer-centric execution that's driving growth."
Manufacturing Leadership Awards
The Manufacturing Leadership Awards (ML Awards) honor companies and individuals that are shaping the future of global manufacturing. Award nominees describe their breakthrough projects using the nomination form. Nominations for breakthrough projects are entered into specific categories and evaluated by a panel of expert judges. Seven of the ML Awards categories are for outstanding projects undertaken and completed by a manufacturing company. Four of the categories recognize the achievements of individual manufacturing executives. For more information, please visit: http://mlawards.gilcommunity.com/.
About the Manufacturing Leadership Council
The Manufacturing Leadership Council, Frost & Sullivan, is the world's first member-driven, global business leadership network dedicated to senior executives in the manufacturing industry. The Manufacturing Leadership Council's mission is to help senior executives define and shape a better future for themselves, their organizations, and the industry at large. The Council produces an extensive portfolio of leadership networking, information and professional development products, programs, and services -- including the Manufacturing Executive Website, an online global business network with 5,300 members around the world; the Manufacturing Leadership Council, an invitation-only executive organization of over 100 members; the annual Manufacturing Leadership Summit – Bold Ideas for a Better Future; the Manufacturing Leadership Awards, celebrating industry achievement; and the thought-leading Manufacturing Leadership Journal. More information on http://www.MLCouncil.com.
About Frost & Sullivan
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