Timex Group introduces FINS solutions
Watchmakers Timex Group and Montrichard have entered into an agreement to implement the web based solution, FINS.
The cloud based enterprise resource planning (ERP) and turnkey supply chain tool enables micro-merchandising and micro-manufacturing best practices to optimise the supply chain for selected brands of the Timex Group.
The FINS solution for the watch industry will provide end-to-end optimisation creating a demand-driven supply chain solution that reduces costs, streamlines procurement, and significantly reduces time to market.
The first made-to-order production line will be ready for use by the end of November
As early as January 2018, the sales teams for certain Timex Group divisions will begin using the FINS cloud-based web interface to customise offers and to trigger specific production orders ranging from a few pieces to several thousands.
The agreement will include Montrichard outsourcing watch assembly to the Timex Group facility for up to five million watches per year.
Tobias Reiss-Schmidt, president and CEO, Timex Group said: “At Timex we have proven ourselves again and again as true leaders in the watchmaking industry. The new FINS solution gives us the ability to continue to build our lead in style and function, with greater perfection of our craft and increased speed to market. The goal is to change the dynamic from an inventory based sales process, to a demand driven model.”