Address the root causes of failing stores functions, poor stock control and stock purchasing.
IESA's objective was to critically analyse the safety stock levels in the stores and implement best in class stock management systems, also to introduce automated stock purchasing and provide the required financial stock visibility to client management to create confidence in this process.
This was proposed with the intention of reducing downtime, reducing carriage charges, improving supplier compliance and also deliver to the client In partnership with the engineering team, IESA quickly identified the critical items currently out of stock and their value. This data was then analysed by the on-site engineering management team, and the true stock value of goods to be purchased was established. In parallel with this, IESA carried out a safety stock analysis on all current stock and brought the newly approved stock purchases in line to achieve a base level foundation of stores inventory.
All items identified and authorised were purchased as stock to fulfil the new safety level targets. The stock was located in newly organised stores to improve clarity and ensure ongoing compliance with good stock management.
To assist in the transition to new working practices and support the initial working capital requirements, IESA implemented a working capital reduction programme, whereby IESA took ownership of consignment stock of fast moving products.
Control and compliance of this stock was achieved by introducing IESA's warehouse and inventory system - IESA online - enabling the increase in control procedures, resulting in greater clarity and visibility of authorised purchases and stock movements.a working capital reduction programme with VMI and automated consignment taking ownership of fast moving stock.