Situation
Organizations face multifaceted challenges demanding innovative solutions. Our client, a multinational company in the biopharmaceutical manufacturing industry, found itself grappling with three critical pain points, negatively impacting its overall efficiency and cost-effectiveness.
The rising cost of consumables, such as paper products, was putting a strain on their operational budget.
There was no real-time visibility into their inventory levels. Thus, it was challenging to manage their inventory efficiently.
They were unsure if they were optimizing their available space, which was crucial for maintaining a safe and productive work environment.
Solution
Our Managed Services Talent Strategists implemented a cutting-edge digital platform to track real-time space utilization and inventory levels.
Key features of the solution:
- Real-time Inventory Tracking: Sensors and counters were strategically placed throughout the facilities to monitor consumable usage in real time. This data was continuously analyzed and made accessible through a centralized digital platform.
- Usage Pattern Analysis: The digital platform analyzed usage patterns and timing to provide valuable insights into when and how specific consumables were being utilized.
Results
Our Talent Strategists utilized the data insights to reconfigure storage areas to maximize efficiency and create a safer work environment. A better understanding of consumption patterns reduced excess inventory and eliminated the risk of stockouts. Therefore, essential supplies were always available when needed. By optimizing inventory levels and reducing wastage, we achieved a 38% total reduction in purchasing costs on consumables inventory.
