AABC Case Studies
How prudent inventory management helped a client boost his company’s profitability
Description:

The client is a major steel wires manufacturer. He manufactures low carbon wires, nail wires, hair pin wires, black annealed wires and cold rolling wires. He operates out of 2 production units based in Tarapur.

The situation:

There was one major issue, which obstructed the client’s business profitability. He didn’t have an inventory management system in place. It led to delays in materials dispatches.

AABC solution:

AABC consultant started on a clean slate. The client was unaware of inventory management’s First in First Out (FIFO) process and its role in boosting a company’s profitability. There was no such mechanism in place to track the company’s inventory.

First, he devised a manpower planning strategy to identify and deploy right talents to professionally manage the client’s inventory. Second, he explained the FIFO method in materials handling to the client. It eliminated the situation of surplus stock and unused stock, which prevented losses. It streamlined the inventory management process, which helped the client achieve operational efficiency.

Furthermore, he also conducted review meetings with every department in the company on 1st Saturday of every month, and circulated the Minutes of Meetings (MOMs) to them. It enabled the client to take stock of the situation every month, which improved his decision making. Ultimately, AABC consultant helped the client’s company become process-driven and professional, which boosted their profitability.

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