Cost Saving Solution

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Submitted by Admin on Fri, 09/21/2018 - 16:21

Overview

Executive Summary
Primary objectives for Leeds Bronze Engineering were to:
• Control inserts and tooling.
• Reduce overstocking of the high-volume items.
• Eliminate stock outages, as well as rush orders, which occurred four to five times per day.
• Eliminate associated next-day shipping costs.
• Eliminate machine downtime.

Challenges
The challenges were to first investigate the market to see what solutions were available and to decide which company could supply a solution that would fulfil our needs. Coil machines were quickly eliminated because repackaging would require additional time and cost.

How it helped
The powerful and easy-to-use SupplyPoint software helped streamline the purchasing and replenishment processes as well as provided secure control of the items that were being managed.

Results
There was additional vacant space available so that the scope of the program could be expanded. Since the 28 Level is easy to reconfigure, changes could be made by Leeds Bronze Engineering personnel.

The Full Story

Executive Summary
Primary objectives for Leeds Bronze Engineering were to:
• Control inserts and tooling.
• Reduce overstocking of the high-volume items.
• Eliminate stock outages, as well as rush orders, which occurred four to five times per day.
• Eliminate associated next-day shipping costs.
• Eliminate machine downtime.

The scalability of the system provided a simple path to grow this cost-saving solution. Production Engineer for Leeds Bronze Engineering Phil Holland called SupplyPoint, “One of the best things that the company has ever purchased.”

Challenges
The challenges were to first investigate the market to see what solutions were available and to decide which company could supply a solution that would fulfill our needs. Coil machines were quickly eliminated because repackaging would require additional time and cost. Plus, the machine’s handling of the cutting tool items when they were dropped into the dispensing bin of the coil machine could potentially damage the cutting tool insert or drill. Together, management and SupplyPoint determined that a detailed inventory management assessment was needed. SupplyPoint recommended the 28 Level incrementally opening drawer product as the ideal solution for Leeds Bronze Engineering. The toughest decision then was to decide with which items to stock the unit going forward.

How it Helped
The drawer sizes for the 28 Level unit were chosen based on the items and their size and quantity to be managed. The powerful and easy-to-use SupplyPoint software helped streamline the purchasing and replenishment processes as well as provided secure control of the items that were being managed. It also provided a system to manage inventory, an audit trail for all transactions and tooling data that allowed management to make solid business decisions based on developing special reports with the SupplyPoint reporting tools.

Results & Return on Investment
The implementation of the SupplyPoint solution was simple and straight forward. There was additional vacant space available so that the scope of the program could be expanded. Since the 28 Level is easy to reconfigure, changes could be made by Leeds Bronze Engineering personnel. “This system has proved to be everything we expected and is nearing capacity in the current setup and we will be looking at expanding the system in the very near future.” Phil Holland