Latest Release of Oracle E-Business Suite Supports Rapid Global Growth for Provider of Specialty Mineral Products, Systems and Services
To help drive efficiencies across its expanding global business, Minerals Technologies Inc. (MTI), a provider of specialty mineral, minerals-based and synthetic minerals products and related systems and services, has upgraded to the Oracle E-Business Suite 12.1.
This upgrade is part of the company’s Operational Excellence process, which is a key element in its journey to continuously improve efficiency and productivity throughout the organization.
The firm’s Operational Excellence process was deployed in 2008 to further drive customer value and to create a quantum step improvement in operational efficiency by engaging the entire workforce in the never-ending quest of continuous improvement.
Minerals Technologies uses many of the same critical principles found in the Toyota Production System, and employs such lean methodologies and tools as 5S, Standard Work, Hoshin Kanri, Daily Management Control, Total Productive Maintenance (TPM) and Kaizen. During 2012 the firm’s workforce of approximately 2,000 employees engaged in 1,200 kaizen events. The firm believes its superior performance in total shareholder return since 2008 is heavily attributable to its Operational Excellence initiative.
With a rapidly expanding global presence, MTI uses Oracle Process Manufacturing, a modern, flexible and scalable platform that helps manage batch production, supports decision making, and optimizes business processes by providing a single view into granular data from more than 60 plants around the world.
By upgrading to the Oracle E-Business Suite 12.1, MTI now has a comprehensive and integrated suite of modern business applications that support its global expansion by driving efficiencies, standardizing processes and providing visibility into all global transactions.
With Oracle E-Business Suite Financials modules, including Oracle General Ledger, Oracle Payables, and Oracle Receivables, MTI has been able to achieve a better view into its business, reducing the average time taken to close its books and produce a full set of management reports by three days.
The detailed insights provided by Oracle E-Business Suite Financials modules have also helped MTI to optimize the management of working capital by enabling a global Shared Service that allow it to access more timely and frequent reviews of transactions across its growing global business.
To gain further insights into its asset lifecycle, MTI is leveraging Oracle Enterprise Asset Management and Oracle Projects to develop sophisticated, condition-based maintenance strategies that reduce costs and increase speed to market by enhancing inventory management processes.
To help better manage its supply chain logistics, MTI uses Oracle Transportation Management and Oracle Inventory Management to enhance overall supply chain efficiency and lower transportation costs providing users flexibility in how material flows through their facilities and across their supply chain.
Upgrading to the latest release of Oracle E-Business Suite CRM allows MTI to take advantage of the new mobile technology and to better manage sales forecasting, customer tracking and development of opportunities.
Driving further efficiencies, MTI uses Oracle Managed Cloud Services to manage the Oracle E-Business Suite and its other Oracle applications, databases and hardware, which has enabled the company to accelerate business results, lower costs, and reduce risk by creating shared services that support operational excellence and drive business performance.
“Oracle has been a trusted solution provider as we have grown from a midsize organization to a global, billion-dollar operation,” said Khem Balkaran, CIO and head of Global Business Services, Minerals Technologies, Inc. “To ensure we could continue to take advantage of the latest technologies to support our global growth, we decided to upgrade to the latest release of the Oracle E-Business Suite as it is the foundation of our business application. The new capabilities and shared services have increased our flexibility and responsiveness by providing us with unparalleled visibility into our global business operations, which, coupled with our Operations Excellence/Lean initiative, will position us well to continue to increase our efficiency and productivity.”
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