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Lowering Inventory Carrying Costs for an Industrial Materials Manufacturer by $0.7 Million | SpendEdge’s Latest Success Story

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SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their supply management study for an industrial materials manufacturer.

Project background

The client wanted to improve its profitability and maximize shareholder value of the company by increasing asset utilization. The time agreed to achieve this objective was six months.

  • Objective 1: The company wanted to enhance their supply management process and analyze cost reduction opportunities.
  • Objective 2: They were also interested in exploring market opportunities to facilitate better sources of raw materials.
  • Want to gain detailed insights? Request a free demo and know how our experts can determine various cost-saving opportunities for your business.

Supply management involves the coordination of pre-production logistics and inventory management. It enables companies to identify and procure goods or services that are vital for the companys ongoing operations. It also establishes supplier management process and implements procedures that facilitate the procurement process, says a procurement expert from SpendEdge.

Key findings and solutions offered

In a span of six months, the client “ an industrial materials manufacturer “ implemented documented procedures for forecasting and improved their production planning. They identified suppliers who can offer the most competitive pricing and meet their business demands. The solution offered helped them to:

  • Boost their brand value by ensuring timely delivery of products to customers.
  • Improve inventory planning and management by effective demand forecasting.
  • Ensuring timely delivery of materials can significantly boost brand value for companies. Request a free proposal and access our complete portfolio of supply management solutions today!

Outcome: The supply management strategy implemented by SpendEdge helped the client to redesign the warehousing process and ensure a continuous supply of materials. This substantially reduced supply chain costs and boosted the overall profitability of the client. The services offered further lowered the inventory carrying costs by approximately $0.7 million per year for the company and enabled them to improve their customer service process.

To access the complete case study on supply management, get in touch with our experts here!

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Request free proposal to know more, https://www.spendedge.com/request-free-proposal

SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630
984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us

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New Inject/Eject Mechanism from Southco Simplifies Installation and Operation with Tool Free Operation

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HONG KONG SAR – Media OutReach – 14 January 2021 – Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such as locks, latches, captive fasteners, electronic access solutions and hinges/ positioning technology, has introduced a new addition to its successful P7 Inject/Eject series, designed for the popular solid-state drive (SSD) data storage format used in the Telecom and Data Center industries. Southco’s P7-M2 Solid-State Drive Inject/Eject Mechanism features intuitive, tool-free operation, and simple installation and removal of PC boards.

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P7-M2 Solid-State Drive Inject/Eject Mechanism

Southco’s P7-M2 Solid-State Drive Inject/Eject Mechanism can be easily installed by inserting it into the PC board and rotating 90 degrees into place. The PC board can then be pressed into place and pushed closed. Easily removed with the push of a button, the P7-M2 Solid-State Drive Inject/Eject Mechanism features a special tab design that absorbs PC board tolerance and eliminates vibration. The P7-M2 Solid-State Drive Inject/Eject Mechanism also complements industrial design, with a button that customized to match application color preferences.

“Tool-free operation is a priority in PC board accessory installation, and our new SSD inject/eject mechanism meets this need with a simple, intuitive installation process,” said Global Product Manager Ike Teng. “The P7-M2 Solid-State Drive Inject/Eject Mechanism is easy to use at every step, from installation to removal.”

About Southco

Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 70 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.

Southco Asia Limited

2401-2406, Tower 2, Ever Gain Plaza

88 Container Port Road, Kwai Chung

Hong Kong

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Donnie Yen appointed as International Image Ambassador of Hong Kong Fire Services Department

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HONG KONG SAR – Media OutReach – 14 January 2021 – To elevate its international image, the Hong Kong Fire Services Department (HKFSD) invited Mr Donnie Yen to become its International Image Ambassador. The appointment ceremony was held earlier at the Fire and Ambulance Services Academy in Pak Shing Kok, Tseung Kwan O, in which the Director of Fire Services, Mr Joseph Leung, presented the appointment certificate to Mr Yen.

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The Director of Fire Services, Mr Joseph Leung, presents the appointment certificate to Mr Donnie Yen.

The Fire Services promotional videos stars Donnie Yen as fire and ambulance personnel.

 

In the ceremonial proceedings, Mr Yen said he was honoured to serve as the International Image Ambassador of the HKFSD. He shared some anecdotes from the filming of the Fire Services promotional videos and revealed that he will, for the department, record a song for the first time ever.

Director Leung revealed that the collaboration was materialised largely thanks to Mr Yen’s distinct heroic image which strongly resonates with the intrepidity of the Fire Services personnel. His dedication to work and perfection-seeking professionalism also coincide with the HKFSD’s spirit to constantly strive for improvement and excellence. With an international perspective and reputation, the newly appointed International Image Ambassador will help promote the department’s professionalism and commitment through various media and platforms, spreading the HKFSD’s name worldwide.

For further details, visit the HKFSD’s official Facebook Page:

[View Image]https://www.facebook.com/hkfsd.gov.hk

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Kincentric Best Employers in Malaysia Embrace the Next Normal in Extraordinary Ways

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KUALA LUMPUR, MALAYSIA – Media OutReach – 14 January 2021 – Never in history have employee engagement experiences played a more crucial role than it has in 2020. The unprecedented challenges that businesses have undergone have shown us that it is people, more than any other factors that carry a company through a crisis towards success.

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With decades of expertise in culture and engagement, leadership assessment and development, and HR and talent advisory services, Kincentric (a Spencer Stuart Company) helps organizations to be the best in the business through their Best Employers program, a leading employer benchmarking program measuring and recognizing extraordinary employers demonstrating workplace excellence.

For 20 years, the Kincentric Best Employers program has recognized leading employers across the world who are committed to realizing great workplace experiences. Selected by an independent panel of judges, these organizations are leading the way in aspects that are crucial for success — employee engagement, agility, engaging leadership and talent focus.

In 2020, Kincentric Best Employers in Malaysia have consistently found new and innovative ways to empower and motivate their people throughout a very challenging year, creating a work environment where people feel appreciated, highly connected and inspired to do their best, every day. As we begin 2021, we look at how our Best Employers in Malaysia have applied an agile approach to strategy, measurement and delivery of the Employee eXperience to prepare for the next normal.

edotco Group Sdn Bhd

  • Best Employer in Malaysia and recipient of the Commitment to Engaging Leadership special award, the integrated telecommunications infrastructure services company employed three key strategies, namely timely and empathetic communication, personal involvement of senior leadership and people managers in employee development programs, and activation of people managers as informal mentors.
  • Apart from regular and prompt updates to employees on business and COVID-19 related developments, the organization focused on sustaining employee resilience through financial, mental and physical wellbeing in 2020, doubling down on employee development investment by 50% to future-proof its workforce via digital competencies.
  • “At edotco, we believe in never letting a crisis go to waste. The COVID-19 pandemic had bought home 2 new values into our organization (Resilience and Empathy) as the anchor that keeps our ship grounded. While we had shifted some of our priorities, adopting these principles helped our leadership team remain laser-focused in engaging our employees in a united manner and provided us with a framework to navigate through these turbulent waters. I believe we will emerge stronger as an organization come 2021,” says Adlan Tajudin, Chief Executive Officer.

 

Hartalega Sdn Bhd

  • As one of the world’s leading glove manufacturers, this second-time Best Employer was an integral part of the support system for the fight against COVID-19. Due to the supernormal demands, the company had to adapt quickly to ramp up production capacity amidst the freeze on migrant labor for which the glove industry is highly dependent on.
  • In a bid to attract locals to meet its production challenges, Hartalega quickly improved its value proposition for operator level jobs and accelerated the implementation of new automation systems throughout their production facilities.
  • Reflecting on the company’s journey in the program, Kuan Vin Seung, Chief Human Resource Officer shares “In year 2017, we decided to participate in the Kincentric Best Employers program to put Hartalega up against the best companies, not to win it but to learn how to be better. Having won it for the second time is really motivating and a testament that we are on the right path to become the best in people’s practices.”

 

Kulim (Malaysia) Berhad

  • At the core of this home-grown organization’s value system is C.A.R.E. (Competitive, Action, Responsible, Ethical) – the belief that the spirit of caring is integral to the prosperity and survival of its business. Inculcating an inclusive, non-discriminatory work environment, Kulim continually capitalizes on employee growth potential by grooming and preparing its workforce to meet the needs and changes in their current jobs, with a view of the future.
  • Promoting a high-performance work culture that runs parallel with its human capital initiatives, the company motivated and challenged employees to raise their performance through a highly-structured performance-based reward system.
  • As Tuan Haji Amran Zakaria, Head of Corporate Services Division explains, “Our people are our greatest asset. We must develop the right people, with the right caliber, skills and mindset. All of these must come together. If we do not develop people, then a lot of things are left to be desired. So, people are the fundamental factor and we need to continuously inject fresh mindsets and new thinking to drive the company forward.”

Roche Services (Asia Pacific) Sdn Bhd

  • A pioneer in healthcare, Roche combines its strengths in pharmaceuticals and diagnostics to drive personalized healthcare. While some organizations found the transition into remote work quite challenging, the company executed this seamlessly, enabled by their existing agile ways of working. Through a creative mid-to-long term communication and engagement plan to enable meaningful and proactive interaction, Roche kept team spirit up by organizing activities such as zoom cooking classes and mental well-being talks, as well as encouraged team sharing of hobbies and games.
  • Adopting flexible working policies such as the one-time Ergonomics Assistance Programme for the purchase of furniture, tools, devices or equipment to enable smooth work from home, the company fostered a supportive and inclusive workplace culture to retain and attract the best talent. The approach paid off as Roche successfully employed 180 talented individuals during the pandemic.
  • Delighted by the honor, Martin Kikstein, General Manager says “the Kincentric Best Employer Brand Award 2020 is an endorsement we are honored to receive as we truly believe any organization is only as good as its people. It is a meaningful award for all of us at Roche Services & Solutions (RSS) APAC, further reinforcing our people-first philosophy. Our collective passion to foster diversity and inclusion made this award possible for our organization. I want to take this opportunity to thank each and every member of my team, congratulations RSS APAC!” 

American Express (Malaysia)

  • American Express won Kincentric Best of the Best Employer in Malaysia 2020 by delivering an exceptional people-centric experience through three key areas — trust, open communication and top team alignment.
  • Recognizing the importance of a health and wellness culture from the start of the pandemic, they embarked on key initiatives beginning with the launch of a telehealth service for colleagues and their immediate family members to consult doctors and access expert medical care.
  • American Express Malaysia shares its success story here https://www.media-outreach.com/View/61145/

 

Organizations that are looking for valuable, insightful and actionable data to identify areas to better understand employee engagement, positively influence morale and enhance brand reputation in the next normal can visit https://www.kincentric.com/bestemployers.

 

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