In manufacturing, there are several challenges related to the maintenance and administration of a business on a daily basis and the most revolves around due to operational costs. It can obstruct workforce management, and supply chain management that can be difficult for industrial equipment manufacturers to boost revenue opportunities and drive profitability. The same challenge was with a European industrial equipment manufacturer.
A Europe-based industrial equipment manufacturer was facing challenges in managing its inventory activities and production processes. The client’s inability to accurately manage the inventory led to huge losses for the company.
The company’s other challenges were:
Inadequate Inventory Planning – The IEM client was facing challenges in planning the inventory operations and efficiently supplying industrial machinery consistent with the market demand. However, the lack of insights into the supply chain was one of the reasons behind this.
Resource management – As a constant change in the demand for industrial machinery increases, it was challenging for the industrial equipment manufacturer to efficiently manage their workforce and impacted even the company’s bottom line. So, the client needed to forecast the demand for products in advance and better manage the workforce.
Customer experience management – The company wanted to reduce risk in supply chain operations and keep inventories optimized. The manufacturer also hunted for the reduction of its churn rate and attract new customers.
The Solution: Industrial Equipment Manufacturer Found Infiniti Research
To address the challenges, the Industrial Equipment Manufacturer realized the need to leverage inventory forecasting solutions and approached the experts at Infiniti Research.
The Infiniti Research experts followed a three-phased approach to inventory forecasting, with analyzing the equipment manufacturing industry in Europe, the sales rate of major competitors for the past five years, and constraints hindering the business operations. Then the insights preserved from Infiniti’s inventory forecasting solution assisted the client to precisely understand the potential market demand and manage inventory and production activities accordingly.
With Infiniti’s inventory forecasting solution, the Industrial Equipment Manufacturer was able to streamline its supply chain structure to meet the evolving market demand. Also, they were able to better allocate resources and lessen the operational cost by 27%.
After leveraging solutions from Infiniti Research, the industrial equipment manufacturer was able to better plan the supply chain, efficiently allocate resources, and manage customers’ needs and requirements, all within a short period of eight months. The client was also able to make informed business decisions and keep up with the market demand, enhanced the sales rate and reduce operational cost.