Exion Asia Pte Ltd is a flow control solutions provider under the Pon Asia group. As flow control specialists, the business takes pride in supplying customers with precision-engineered solutions as well as offering a comprehensive repair service. Supporting a diverse range of customers across the water, energy, petrochemical, pharmaceutical, oil and gas, marine & offshore sectors. Exion Asia’s diversified product range encompasses everything from valves to rotating equipment and instruments.
Exion Asia A-Items Availability increased to 95%
Focus On The Right Items
Distributing over 19,000 different SKUs across Asia, the flow control specialist strives to provide timely and quality solutions that satisfy its customer’s stringent requirements. In the past, Exion Asia depended on spreadsheets to manage inventory. However, with limited planning and forecasting capabilities, keeping inventory under control was becoming increasingly more challenging. As a result, the business faced a high number of customer backorders as well as spiralling levels ofexcess and obsolete stock.
To optimise the inventory management process Exion Asia implemented Slimstock’s advanced inventory solution Slim4. Focused on supporting the team to make more optimal decisionmaking, the first step was to re-balance the inventory.
As quoted by Rowena, Group Supply Chain Manager Exion Asia: “In the past, we unnecessarily stocked a lot of items. With Slim4, we now have much greater control and visibility. With structured rules in place, we are better positioned to translate our business strategy to inventory decision-making. Now, we only need to invest in theproducts that the business truly needs.”
"Before Slim4, managing our inventory was tedious. Now, I can track everything and make informed and quick decisions with just a click of a button.”
Group Supply Chain Manager | Exion Asia Pte Ltd
Before using Slim4, the purchasing process was not well defined. With no way of storing minimum order quantities in the ERP, Exion Asia based their purchasing decisions on gut feelings. This process was therefore also highly manual and involved many interventions and revisions.
“With Slim4, Exion is now not only able to automatically align the order advice to the minimum order quantity and incremental order quantity, the solution also calculates the economic order quantity. This further helps to minimize the total inventory cost as well as increase efficiency”, cited Rowena
Additionally, the order fill function in Slim4 efficiently calculates whether a discount for a bigger purchase is worth pursuing. If so, the system automatically reviews future demand to provide recommendations of other items from the same supplier to add to the existing purchase order.
Rowena goes on to highlight: “Before Slim4, managing our inventory was tedious. Now, I can track everything and makeinformed and quick decisions with just a click of a button.”
As a customer-oriented company, availability is an important KPI for Exion Asia. Before COVID-19, A-class items’ availability increased by 17%, reaching a peak of 95%. Even during the COVID-19 pandemic, Exion Asia managed to retain a high level of availability for stockeditems.
“As a trusted partner, Slimstock has always been with us throughout our inventory optimisation journey; listening and considering our specific business needs and offering tailored inventory solutions. Additionally, with their support and training, we were able to focus on the business areas that matter the most”, explains Rowena
Satisfied with the results so far, Rowena and her team are now working towards driving further operational improvements across the business. Focused on enhancing collaboration, Exion Asia will utilise the insights provided by Slim4 to improve communication between the supply chain and sales teams to streamline theinventory process.