A Critical Stock Management Tool

Overview:

Our client is a manufacturing business that has built its business on always having products ready to ship within 24 hours even though the product supply chain is at least 9 months. The selling point to clients is we identify the best product which we buy in bulk at the lowest prices and we take away the pain of a long lead time so you don’t need to deal with it. 

The Problem:

With managing the supply chain such a critical part of the company’s success they wanted a tool to make sure they always had product available while keeping stock at manageable levels. The product needed to be able to identify changing trends ahead of time but they didn’t want a “black box” planning solution which would just throw out numbers without understanding what was driving the change.

The Solution:

We used excel to build a tool that tracked trends to identify size of requirements and when they were needed and kept track of shipments that had already been purchased. Inputs for the excel tool were transferred from the ERP system and eliminated the possibility of human error in entering data as well as the time needed to do this.

The Benefits:

For this application excel was the right solution and also a very low cost solution. It was easy to input the data and easy to see what was driving order requirements which made it easy for the production team to communicate with the procurement team and justify the requests. If an order looked incorrect it was possible to problem solve and identify what was driving the output. A side benefit was this provided an opportunity for shop floor workers to understand excel and multiple work practice improvements came out of the team having access to a simple tool

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