Irish supply chain technology company, Replan, has announced a £2m investment round, led by Hoxton Ventures, to support the launch of a transformative new production planning software for manufacturers.
The tool is said to be the first of its kind to combine dynamic production sequences with mid-term group level planning, empowering companies to navigate and respond to increasing supply chain disruption.
The funding is the latest in over £5m raised to-date by the company and will support ongoing product development and market growth in the UK and Europe, as well as future expansion into North America. Replan was cherry picked by investors for its potential for fast growth and technology that promises to revolutionise complex supply chain planning with pre-configured AI and advanced analytics.
Supply chain leaders will now be able to transform and scale production planning with a solution that rapidly automates and evaluates multiple scenarios, helping manufacturers to reduce cost, increase efficiency, and respond to disruption faster. The software enables planners to generate complex production sequencing in minutes, automatically applying the right AI algorithm to gain full control over demand forecasting and supply chain planning.
Richie Barter, CEO at Replan, said: “Replan embeds cutting-edge AI modelling and optimisation capabilities within a modern, intuitive user interface to shake up the status quo and revolutionise supply chain planning. The software can streamline even the most complex production plans, helping manufacturers to improve operational efficiency and build more agile and resilient supply chains.”
Hussein Kanji, Partner at Hoxton Ventures, commented: “Replan’s technology is key to keeping the manufacturing supply chain efficient and moving. The company is tackling critical planning challenges that went largely unaddressed before COVID, but that cause costs and delays for manufacturers.”
The launch comes as supply chains continue to experience disruption due to the pandemic, supply shortages and geopolitical unrest. With the volume and velocity of change exposing critical technology and processing problems at the heart of supply chains, manufacturers are increasingly seeking to leverage digital transformation to transform and scale production planning and meet business and sustainability goals.