Strand Products, Inc., a 100% employee-owned company based in Ventura, CA, specializes in the design and fabrication of high-tolerance custom mechanical wire, wire rope, and cable assemblies. A MedTech company serving aerospace, defense, and automotive sectors, Strand Products is committed to innovation and quality. To sustain growth and meet increasing customer demands, Stand Products implemented Plex ERP, transforming their operations from manual and fragmented processes to a fully automated, real-time system.
For more than 50 years, Strand Products, Inc. has specialized in the design and fabrication of high tolerance custom mechanical wire, wire rope, and cable assemblies for diverse and demanding applications.
- Operated eight different programs to extract meaningful information from previous ERP
- Data analysis was time consuming and limited to retroactive data
- Manual paperwork created risk of clerical errors and inefficiencies
- Successful, 6-month implementation of Plex ERP to digitize and automate operations
- 40% revenue growth post-implementation
- 7% improvement in gross margin year-over-year
- Maintained on-time delivery rate of more than 90%
Challenge
Strand Products wasn’t new to digitization. In 2004, the company implemented an ERP. However, the system relied on a patchwork of eight different programs, leading to inefficiencies and delays in critical areas such as costing and production tracking. CEO Wes Prunkle explains, “Before Plex, we were originally paper-based. We had digitization and traceability, but the process was arduous. One had to be a database expert or Excel pivot table expert just to get any kind of meaningful information.”
The company faced a few pain points: retroactive data analysis, delayed insights into production costs, and lack of real-time visibility into manufacturing processes. Additionally, their method for generating compliance certification packets—vital for their customers in aerospace, Medtech, and defense—was slow and prone to errors due to the manual work involved. The Strand Products team knew that to grow and maintain high standards, they needed to automate.
Solution
Strand Products began searching for a modern ERP solution that would provide seamless continuity of information and offer real-time access to data. After evaluating several top competitors, the company selected Plex ERP due to its comprehensive functionality and ability to support diverse industry requirements without the need for costly or labor-intensive add-ons.
“The implementation far exceeded my expectations,” says Prunkle. It took “about six months from our initial discovery to going live, and we haven’t looked back.” Plex ERP allowed Strand Products to transition fully from a paper-based system to a digital platform, providing complete visibility across production and operations.
Result
Since implementing Plex ERP, Strand Products has seen remarkable improvements in both operational efficiency and financial performance. For example, the company has seen revenue grow 40% within the first year of implementation and a 7% improvement in gross margin year-over-year in 2024.
One of the most significant benefits has been the automation of their compliance processes, crucial for meeting customer requirements in the highly regulated fields that they serve. Plex ERP eliminated the need for manual entry and drastically reduced the time spent on preparing certification packets.
“Plex has allowed us to be more proactive in running our business,” says Prunkle. “It’s enabled us to realize better financial management and operational execution.” With real-time visibility into their production floor, Strand Products no longer operates in a “black box” as they previously did. Now, they can monitor variances and costs immediately, driving more informed decision-making and improving overall operational efficiency.
Looking forward, Strand Products is well-positioned to continue growing its business while maintaining the high standards of quality and traceability required by its customer base.
Published October 21, 2024
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