Formaplex case study
World class manufacturing solutions demand world class forecasting
A proud tier 1 manufacturer and supplier to the automotive, aerospace, defence and motorsport sectors, since 2001. Operating across three sites employing 350+ people, Formaplex manufacture tooling, and supply injection moulded plastic and composite components to meet critical delivery schedules.
They have grown by nearly 300% in the last 4 years, and were in need of a better and more flexible forecasting system.
“Formulate helped us achieve the reality of moving away from spread sheets to the benefits of a flexible standard tool like Adaptive Insights.”
When Formulate met Formaplex they were using a system of complex spreadsheets to manage multiple projects, with significant cash flow requirements. In addition high growth within a fast paced sector was pushing the existing system to the limit. There was a need to manage cross currency issues, as well as inter-divisional trading.
The most urgent need for Formaplex was a fully integrated P&L and cash flow based on first principles they could see, trust and understand the numbers in the forecast. This built confidence that they could see the model was built on traditional accounting principles.