BONDO Taps Formation Systems to Optimize Product Development, Accelerate Time to Market.Business/Technology Editors SOUTHBOROUGH, Mass.--(BUSINESS WIRE)--July 22, 2002 Formation Systems' Optiva Enables BONDO To Increase Profits Through Tighter Integration and Increased Automation Across the Innovation Process Formation Systems today announced that BONDO(R), a leading manufacturer of automotive, household and marine repair products, has successfully deployed its Optiva solution to strengthen and streamline product innovation and deployment capabilities. Optiva's Product Lifecycle Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. Management (PLM (Product Life cycle Management) A comprehensive information system that coordinates all aspects of a product from initial concept to its eventual retirement. Sometimes called the "digital backbone" of a product, it includes the requirements phase, analysis and design ) software provides BONDO with an integrated, holistic view into the product development process from creation through introduction. BONDO produces more than 700 items, including automotive body repair products, paint removers, spray paints, primer and other household repair products, as well as marine products. Fueled by both innovation and acquisition, the company includes MAR-HYDE(TM), BONDO HOME SOLUTIONS(TM), DYNATRON See tetrode. (TM), MARSON(TM), LAMINEX(TM), BONDO MARINE(TM) and BONDO brand names. In addition to assuring product quality, BONDO must also manage the added complexity of adhering to the diverse safety and compliance regulations for its global product distribution to more than 100 countries. "As the de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, for a majority of automotive, household and marine repair products, BONDO is charged with assuring product quality and consumer availability across our extensive product line," said Pat Formica, president of BONDO. "Optiva provides us with the tools we need to better utilize and share formula information to support new product development and expedite time to market while also automating quality assurance, control and other business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets to maintain high standards." To fully manage its innovation process and more closely integrate R&D with other elements of the product production process, BONDO selected Optiva. With Optiva, BONDO is aligning initial development with material specifications, regulatory compliance and other key factors in maintaining superior quality in current and future products. "Organizations like BONDO continue to succeed by focusing on new products while also continually tuning their established business processes to reduce costs," said Dan Keelan, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Formation Systems. "By leveraging Optiva to interlock A device that prohibits an action from taking place. R&D with quality assurance and other process check points, BONDO is able to effectively support its diverse product line while increasing profit margins." Optiva provides BONDO engineers and executives with the visibility, automation and collaboration required to support innovation. Using Freestyle, Optiva's customizable Web-based interface, users are able to set views and fields based on individual preferences. The Optiva Formulation module provides a single system of record for all R&D projects as well as existing product formulas. Enhanced Optiva Formulation module analytics catalogue and track materials included in diverse product formulas, enabling users to identify approved materials in existing products for use in future product development. To streamline and automate global regulatory restrictions, Optiva Compliance serves as a single point of reference among BONDO's quality assurance, quality control and product development departments. The result is increased quality assurance and control, while quickly identifying and eliminating development delays. Added workflow capabilities support BONDO's customized approval process to track the process from concept to product. To reduce material costs, the Optiva Strategic Sourcing module aggregates technical raw material specifications, enabling BONDO to easily identify and match material purchases across all business units. A combined organizational view of purchasing coupled with material detail enables BONDO to compare vendor data to quality specifications, identify low cost substitutions, rationalize raw materials and control the proliferation of new materials. Armed with this knowledge, purchasing can negotiate better material quotes, address quality improvement and identify cost reduction opportunities. About BONDO BONDO manufactures and markets automotive body repair, household repair and marine products under the BONDO, MAR-HYDE, BONDO HOME SOLUTIONS, DYNATRON, MARSON, LAMINEX and BONDO MARINE brand names. Their extensive product line has over seven hundred items including adhesive kits, body fillers and putties, fiberglass repair products, paint removers, plastic repair products, rivets, spray paints, super glue Super Glue Wound care A proprietary adhesive used for nonsuture closure of simple skin lacerations. See Laceration. , home repair kits, undercoatings, vinyl/fabric colors, paint removers, paint hardeners and catalysts, clearcoats, primer surfacers, solvents, bumper and trim products, aerosol spray Aerosol spray is a type of dispensing system which creates an aerosol mist of liquid particles. This is used with a can or bottle that contains a liquid under pressure. When the container's valve is opened, the liquid is forced out of a small hole and emerges as an aerosol or mist. paints, plastic repair materials and rust converters. BONDO products are distributed through mass merchandisers, automotive parts retailers and jobbers. They are exported to more than 100 countries. MAR-HYDE, DYNATRON and MARSON products are targeted to the more than 60,000 body shops throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . BONDO traffic control loop sealing compounds are marketed to local governments for use when installing traffic signals at intersections. LAMINEX products and compounds are sold to fiberglass distributors and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and boat builders Boat Builders redirects here. That is also the name of a 1938 Disney cartoon, shown before a presentation of Meet The Robinsons. Fishing boats
About Formation Systems Formation Systems develops Optiva, a suite of product development software for process industries. Their mission is to ensure a company's best ideas become the world's greatest products. Formation customers include large global Fortune 500 companies such as The Coca-Cola Company, GE Plastics, Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. , Kerry Group Kerry Group LSE: KYGa, is a major quoted food company headquartered in the Republic of Ireland. It is quoted on the Dublin ISEQ and London stock exchanges. It evolved initially from a local dairy co-op in the Munster region of Ireland. plc, Golden State Foods, Parfums Christian Dior Parfums Christian Dior is the make-up and perfumery line of Christian Dior SA, based on the company created by twentieth-century fashion designer Christian Dior. It was created in 1947 with the launch of Miss Dior perfume. , Yves Rocher, RPM and The Valspar Corporation. Formation's software offers customers high return, low risk and quick time to benefit. Founded in 1995, Formation Systems is privately held and headquartered in Southborough, Massachusetts. For more information visit the corporate web site at www.formationsystems.com. |
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