• Conduct regular data audits to assess the current stock levels of warehouse materials.
• Identify slow moving or obsolete items during these audits.
• Identify Same Materials stocked in different places with different Material code and descriptions.
• Identify Materials stocked and not used for more than 5 years.
• Consider selling or donating items that are no longer needed.
• Immediately Scrap, if any material no longer be used.

• Improve your demand forecasting processes to better predict the actual need for raw materials, consumable materials and spare parts.
• Use historical data, market trends, and production schedules to refine and redefine forecasts.

• Maintain open relationship with suppliers to adjust orders based on actual production requirements.

• Adopt a just-in-time inventory system for materials to minimize excess stock.

• Constitute minimum and maximum inventory levels for critical parts.
• Implement automated systems to trigger reorders when stock levels reach minimum predetermined thresholds and investigate if it reaches maximum.

• Explore the use of Vendor Managed Inventory where suppliers/vendors monitor and manage predefined stock levels on your behalf.
• This will improve efficiency and reduce the risk of overstocking.

• Implement a centralized inventory management system to review, track and control stock levels.
• Utilize technology to automate inventory tracking and ordering processes in the best possible way.

• Establish a clear returns and exchanges policy for all the direct and Indirect material.
• So that excess stock can be managed by returning of unused items.

• Regular check and audit by MRO experts on the overall data is must.
• Regular Meeting to be conducted and feedback from different department involved in the inventory management process should be discussed and changes must be made if needed.

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The client is a global leading electronic manufacturing services (EMS) company with a presence across four continents and is well-known for producing electronics for power technologies, protection, and control systems, energy transmission, and distribution.

Product development and manufacturing teams were facing several challenges in the fast-evolving world of technology, especially when it comes to managing accurate component and part information in ERP system. With a focus to introduce new products, the client’s mission was to create, enrich and maintain clean component databases with detailed part parameters and compliance information.

Due to the client’s lack of expertise in Component Engineering, Data Transformation, and Multi-Lingual Sourcing, the client wanted the project outsourced to a more capable team at an affordable price. 扣扣传媒 designed a strategy to address the client’s component engineering requirement by keeping product development and manufacturing environments at the core. 扣扣传媒 proposed setting up a dedicated team of component engineers carrying in-depth combined knowledge of manufacturing, product design, and regulatory compliance.

A global supplier engagement team will assist the component engineers in gathering parts technical data and compliance document from suppliers in multiple languages worldwide.

The component engineers are expected to:

• Capture the critical parameters for various parts through web sourcing and direct engagement with suppliers
• Gather all compliance related information especially, RoHS and REACH compliance
• Ensure all the parts data contains all the mandatory parameters in place
• Include all technical, compliance and process data in the BOMs
• Deliver updated materials/parts database with a quick turnaround time

鈥淯nder this paradigm, we help organizations redesign their data management practices and transform their processes to achieve maximum efficiency across various functions. Through this partnership, we hope to help our client obtain valuable insights into costs and supplier management, as well as help them stay ahead of technology and remain agile.鈥�, says CK Bharathan 鈥� Head of Compliance and Master Data Management, 扣扣传媒.

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