Background
The need to optimize inventory management actions.
The need to reduce human error and loss by centralizing and automating the product ordering process.
Lack of customer satisfaction and too much time spent on inventory management.
Progress of the project
The implementation of ABM Inventory resulted in significant improvements in the company's operational efficiency, including reduced inventory, reduced surplus and reduced lost revenue. Analysis of the pilot project confirmed the effectiveness of the system, which led to its scaling to the entire store network, improving competitiveness and customer satisfaction.
The pilot project took 12 weeks to conduct
During this period, the ABM Inventory system was successfully implemented in one of the selected stores, while the second store continued to operate under the old processes. The pilot project allowed us to evaluate the system's efficiency in real conditions and obtain initial results.
ABM Inventory has shown significant results
The results of the pilot project included a 21% reduction in inventory, a 48% reduction in surplus, and an 11% reduction in lost revenue. These indicators confirmed the effectiveness of the system and its ability to improve inventory management processes.
Decision to scale the system to the entire network
After successful completion of the pilot project and analysis of its results, a decision was made to scale the ABM Inventory system to all stores of the chain. This process took another 5 months and included staff training, customization of the system and its implementation in all stores of the chain.
Results of ABM Inventory implementation
The results obtained for Novus:
The results confirmed the effectiveness of the ABM Inventory system and provided the basis for its successful scaling to the entire store network, further enhancing the company's competitiveness and customer satisfaction.
Qualitative Results:
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Improved Demand Forecasting Accuracy: The implementation of ABM Inventory has allowed for more accurate forecasting of demand for goods, which has helped prevent shortage or overstock situations, improving customer satisfaction and preventing losses.
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More efficient inventory management: ABM Inventory provided centralized inventory management across the entire store network, reducing human error and increasing the efficiency of ordering and replenishment processes.
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Improved Supplier Engagement: By better analyzing data on store orders and needs, the company was able to improve supplier engagement, resulting in more efficient deliveries, improved product quality and shorter delivery times.
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