Before working with Slim4, inaccurate forecasting was causing major headaches for the team at Teka Malaysia leading to both overstocking and understocking. Consequently, the business needed a solution that could help both eradicate excess stock as well as maximise revenue opportunities through reducing lost sales.
The partnership with Slimstock aimed to streamline the supply chain operations process and help the planning team to develop more timely and reliable forecasts based on the inventory parameters in place.
Since kicking off the optimisation project in February 2018, the following direct results have already been achieved:
- Forecast accuracy improved to over 90%
- 5% reduction in excess stock reserved for projects
- Better positioned to match open sales orders with purchase orders
Pleased with the results so far, Nancy Lam sees Slim4 as a helpful work buddy in her role as the Operations Manager at Teka Malaysia. “Slim4 has played a pivotal role as it issues reminders for the day-to-day activities to ensure we have sufficient stock to cover the current and future demand,” elaborates Lam.