Burlington, MA - March 10, 2003 - Framework Technologies, the leader in solutions that increase product introduction success, today announced it has been selected by American Racing Equipment, Inc., one of the world's largest aftermarket wheel manufacturers, to assist the company in product planning by reducing its new wheel design development time. By using Framework's ActiveProduct, American Racing intends to meet an aggressive product introduction schedule during 2003 while reducing product costs and increasing revenues.
"Our business is about automotive fashion; wheels are an accessory item, and consumers are always looking for new and unique designs. Continually bringing new products to market in a timely manner is critical to driving demand. And although we enjoy a competitive lead, we don't take our success for granted. We continuously strive to enhance our product planning and time-to-market, which we'll be able to do with Framework's software product on board, said Andy Paskin, Director of Product Engineering for American Racing Equipment. "We selected Framework because they understand business challenges and have helped manufacturers from other industries overcome similar hurdles. Framework offered a compelling solution that enhances communications, both internally and with our suppliers, enabling faster turn-around during approval cycles plus cost savings that result from moving closer to a paperless operation."
Framework's solutions will enable American Racing Equipment to overcome numerous challenges that extend development cycle times, such as time-consuming communications with suppliers and design changes late in the development cycle that tooling shops are ill-prepared to handle. American Racing has embraced a strategy of increasing revenues by quickly bringing the right products to the right markets, and by reducing engineering project costs through the elimination of delays and errors.
ActiveProduct will accelerate new product development by linking all parties involved with design and engineering. The solution minimizes communication barriers between business partners, enabling immediate resolution of critical issues. ActiveProject(r), ActiveProduct's core team collaboration software, will encourage tooling and mold shops to become involved in the design process in early stages, better equipping them for design changes. Tracking the activities of team members and ensuring team access to the most up-to-date information will reduce design times.
"Industry leaders such as American Racing Equipment recognize our product for the return it brings to them, their business partners and their customers. American Racing Equipment has set itself apart through craftsmanship and innovation. By enhancing their manufacturing execution, motorsports enthusiasts and everyday drivers will continue to experience superior design and technology delivered by American Racing Equipment," said Donald Tomkinson, president and CEO of Framework Technologies. "Our software's ability to automate the company's formalized product introduction process will help American Racing Equipment firmly hold its leadership position, a difficult undertaking in today's highly competitive climate."