SUCCESS STORY
8 X ROI on duplicate items
Transforming Inventory Management in the Engineering Sector
- Delivering cost savings and improved stock availability through AI-driven product analysis
Outcomes
cost reduction
Identified £15M in savings opportunities
high-volume analysis
Real-time insights enabled smarter, faster procurement strategies
multi-language insight
Standardised tracking increased compliance and strengthened relationships
CLEAR DUPLICATE VISIBILITY
Pinpointed where and what needed streamlining
IMPROVED AVAILABILITY
Improved stock levels for core items
BACKGROUND
The client’s mission is to engineer a better future by making the world safer, more efficient, and more connected. They do this by developing and commercialising new solutions that benefit millions of people every day.
the challenge
A newly appointed CPO needed a taxonomy that catered to four disparate business units that comprise over £1Bn of direct spend per year and over 500,000 part numbers. Indirect spend also accounts for several hundred millions of additional spend.
SOLUTION
Anvil implemented a data-driven strategy that included:
- Deploying spend analytics
- Classifying data using proprietary Machine Learning
- Translating PN description from multiple languages
- Developing a neural network component to classify more complex challenges
“We knew we had a problem in this area, but you guys have been the first to show the exact what and where.”
VP Global Supply
ANV105