LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their inventory management study for an automobile company.
The company wanted to minimize production costs by keeping material costs under control. The key objectives they aimed to achieve through this engagement are mentioned below.
- Objective 1: The company wanted to match supply with customers’ demand by improving inventory planning.
- Objective 2: They also wanted to increase the efficiency of the production process by ensuring accurate inventory levels.
- Looking for more information? Request a free demo and know how we can help you maintain accurate inventory levels by providing real-time information.
“Improving inventory management in supply chain is critical for companies to make smart business decisions, improve sales, and fulfil consumer demands,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a leading automobile company – precisely forecasted their product demand, planned inventory, and developed a contingency plan to address issues such as unexpected sales spike and cash flow shortfall. The solution offered helped them to:
- Control cost of operations by improving inventory visibility and conducting regular audits.
- Optimize warehouses by focusing on high-value products as their financial impact was significant.
- Wondering how improving the inventory management process can help companies to control the cost of operations? Request a free proposal and access our complete portfolio of inventory management solutions.
Outcome: The inventory management solution delivered by the experts at SpendEdge helped the client to gain detailed insights into competitive practices and differences in the product strategy. The analysis enabled them to accurately forecast their product demand and plan their inventory. The improved inventory management process further helped the client to segregate products based on the frequency of sales and initiate cycle counting and spot checking. In addition, solution provided real-time monetary benefits to the client by reducing the money spent on slow-moving products.
To access the complete case study on how we helped an automobile company to organize warehouse, improve accuracy of inventory orders, and control cost of operations, get in touch with our experts here!
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