Exion Asia, a leading engineering company and provider of flow control solutions, has chosen Slimstock’s Slim4 software to help better manage the inventory at its warehouse in Singapore.
Slim4 will enable Exion Asia to provide higher service levels, reduced working capital, minimized risk of obsolescence, and more efficient planning and purchasing processes. As a result, Exion Asia will minimize inventory costs while still improving service to their customers.
Exion Asia is part of the Netherlands-based Pon family of companies, many of which already collaborate with Slimstock.
At the on-site kick-off meeting, Melvin Ong, Deputy Managing Director at Exion Asia said, “At Exion Asia we would like to improve our product availability while minimizing our stock levels. Slim4 allows us to manage our inventory at the item level and replenish more frequently. This will eventually make a huge difference for us.”
In the process of working with Exion Asia, Slimstock analyzed the company’s data to get a picture of potential improvement areas as well as pain points of their inventory management situation. Before agreeing on the implementation, an extensive feasibility study was completed. The company currently operates with an assortment of nearly 90,000 SKUs.
“After a first meeting, Slimstock prepared a demo with our own data to give us an idea of what Slim4 could do for us. This already showed promising results. As a result, we decided to continue working on a business case where we balanced the benefits and costs of using Slim4. Throughout the process, Slimstock helped us in a very professional way.”Rowena Trapal, Supply Chain Manager at Exion Asia
Exion Asia will reap benefits of the implementation from the get-go, and expects to recover its investment within the year. Furthermore, the two companies are now exploring the potential ben-efits of implementing Slim4 at Exion Asia’s warehouses in Malaysia.
Erik de Witte, Operations Director for South-East Asia at Slimstock concluded: “It has been an absolute pleasure working with the Exion Asia team, and we look forward to a long term continued partnership. Cutting edge, forward thinking companies like Exion Asia make for ideal partners for Slimstock as they truly understand the full potential that technology can deliver in streamlining inventory management.”
Eng Soon Auto, one of Singapore’s most prominent auto-parts distributors, has selected Slimstock’s Slim4 software suite to reap the benefits of higher efficiency in the forecasting and purchasing process.
Eng Soon Auto Pte Ltd, founded in 1987, has successfully established and maintained its strong presence in the auto-parts market in Singapore. With more than 50 brands - including BMW, Mini and Mercedes - and over 100,000 items of spares, Eng Soon Auto distributes its range of products throughout Southeast Asia including Singapore.
After detailed data analysis with Slimstock’s team, Eng Soon Auto saw a lot of potential for getting insight into their inventory that Slim4 was easily able to provide. The analysis showed that items that were replicated across two warehouse locations could be minimized, as Slim4 could provide greater insight into potential redundancies.
Convinced of the value that Slim4 could provide, Eng Soon Auto has started implementing the software and expects to go live in Q2 2018.
One of the benefits Eng Soon Auto hopes to accrue is achieving the perfect balance between new, mature and end-of-life items in stock, and better refine the actions that need to be taken in every specific phase of the product life cycle. This will allow it to harmonize customer expectations with company resources. Additionally, it hopes to save on rush orders and last-minute freight charges.
“We had too many items in our inventory, and on occasion we missed out on re-ordering certain items, impacting the bottom line. Our purchasing methods could also be tightened and streamlined. Confidence in Slim4 solving our inventory issues was one of the main reasons we chose them,” said Ng Zu Sheng, Director, Eng Soon Auto.
“We are looking forward to an increase in sales and a minimum of 5% reduction in inventory value just in the first year,” he added.
Erik de Witte, Operations Director for Southeast Asia for Slimstock said: “Eng Soon Auto is a very important and reputed local automotive player, and we are genuinely pleased about the beginning of what we hope will be a long-lasting and fruitful relationship. We look forward to working closely with them to help them maintain and exceed their very high standards and service levels.”