Power systems manufacturer implements SmartTime solution in bid to lower cost-per-unit, support business intelligence
Framingham, MA — January 21, 2004 — Power components and systems manufacturer Vicor Corporation has deployed a workforce optimization solution from SmartTime Software to capture and analyze workforce data for increased productivity, lower cost-per-unit and advanced business intelligence.
Headquartered in Andover, Mass., Vicor produces modular power components and complete power systems used primarily by original equipment manufacturers (OEMs) in the communications, data processing, industrial controls, test equipment, medical and defense electronic markets. The company had net revenues of $152 million in 2002.
The manufacturer currently is using SmartTime's Total Workforce Optimization solution to capture and analyze data from more than 1,400 workers in Vicor's manufacturing facilities in Massachusetts and California. The system tracks employee activity at hundreds of work centers, enabling Vicor to assess cost-per-unit, product mix and output volume-per-work center, according to SmartTime.
Vicor will also identify output and revenue-per-day for each work station to help assess net contribution of individual stations compared to company-wide profitability. SmartTime's Web-based labor reporting and open-application programming interface (API) enable Vicor to integrate workforce data with enterprise resource planning (ERP) data from PeopleSoft Enterprise for advanced analytics in Cognos PowerPlay.
"To maintain our product leadership and continue to exceed customer expectations, we need to capture, integrate and analyze data from every aspect of our business," said Doug Richardson, Vicor chief information officer and vice president of information systems. "SmartTime will pay for itself by giving us accurate data on labor costs, which in turn will allow us to improve productivity. SmartTime's ability to integrate with data from our ERP system for interactive Web-based reports puts truly useful business intelligence at our fingertips."
According to SmartTime, Vicor conducted a comprehensive evaluation of leading workforce management solutions, considered developing a proprietary solution and reviewed the possibility of outsourcing development of a custom application to meet its workforce management needs.
The results of the exercise led Vicor to select SmartTime's solution as its most effective choice. SmartTime's Web-based labor tracking capabilities, open database architecture, flexible configuration and ease-of-use met key requirements considered during the selection process.
Kevin J. Rhone, president and CEO of 18-year-old SmartTime, said that his company's mission is to equip customers with the tools they need to continuously analyze and improve workforce processes and successfully balance labor costs, productivity and employee satisfaction.
"Vicor is a pioneer among a growing number of companies who aggressively leverage workforce technology data to model and analyze future scenarios for improved performance, productivity and [return on investment (ROI)]," Rhone concluded.
Other customers for SmartTime's solutions include KeySpan Energy, Merck Pharmaceuticals, General Dynamics, BP Amoco and Gillette.
