Data organization and cleanliness between multiple locations and 2 different operating systems. Bad data made it very difficult for the team to identify trusted part number information within larger spend categories which made it impossible for procurement to accurately quote items and uncover any cost savings opportunities.
We were able to standardize data between multiple locations using UNSPSC and category codes. Then we added engineering specs and prints. This enabled our software to compare their product pricing vs. transparent industry peer data and highlighted their largest savings opportunities.
ManufacturingPower provided standardized, organized & clean data which identified, and exposed cost savings and vendor consolidation opportunities by location resulting in a company wide cost reduction opportunity totaling 11%.
Cash is King in their business but they do not have the resources to dedicate to Industrial Supplies which add-up to a significant annual spend. These items were a challenge to manage due to years of sloppy data aggregation. They were looking to clean up their existing data, streamline their quoting process, and improve their cash flow position.
ManufacturingPower was able to clean and enhance their data set with industry standard categories whiche helped to identify total industrial supply spend. By removing duplications and obsolete part numbers, we provided a much clearer picture into these spend categories. They were able to send and track categorical RFQ and RFP's which greatly improve preparation and processes efficiencies.
ManufacturingPower has provided 50% reduction in RFQ development time, 12% cost saving opportunities on annual MRO spend, and 9% supplier consolidation identification.
Cutting costs and increasing margin on a machining operation with disorganized data.
Standardize and categorize the tooling part numbers used in this process utilizing UNSPSC and category codes. Add print detail and additional engineering specs to prepare an apples-to-apples RFQ helping speed up the time to savings.
ManufacturingPower organized and reduced close to 1500 duplicate part numbers then identified over $15,000 in cost savings opportunities. This was part of a project that allowed the customer to reduce operating costs, maintain their sell price, and increase their overall margin by 1%.