Enventure bagged a contract with a Fortune 500 energy sector multinational company for Spares parts data standardization

December 5, 2019

Portsmouth, NH December 5, 2019 – Enventure today announced that it was awarded a contract for spares parts data standardization multinational fashion Products Company. The client operates in the fields of inspiring individual beauty and fashion products. The supply chain optimization experts from Enventure will do a detailed audit of spare parts in warehouse and identity the gap between the physical stock and current system stock.

The client is a leading manufacturer and marketer of skin care, makeup, fragrance and hair care products. The client has a diverse portfolio of 25+ brands sold in over 150 countries across the globe.

This engagement will have a direct impact on the total inventory value, Inventory carrying cost and obsolescence.

Following are the few of the major current challenges’ client has

  • High spare parts inventory and carrying cost
  • Unaccounted inventory
  • Intermittent of stock outs
  • Maverick purchases
  • Low rate for inventory turnover
  • High amount of obsolete inventory
  • No spend tracking

During the engagement Enventure Inventory management experts will conduct an onsite inventory audit and carryout following activities

  • Extract the current spare parts inventory stock from the maximum system.
  • Conduct warehouse walk down identify the spare parts, match with system spare parts list
  • Design the taxonomy in line with ISO 8000.
  • Cleanse, enrich and standardize every part’s manufacturer name, part number an specification
  • Engage with the suppliers /OEM manufactures and collect the part information to enrich the parts description
  • Spare parts Interchangeability products analysis
  • Identify duplicates and obsolete parts
  • Enable spend analytics

The accurate, standardized and clean data will ensure the client has optimum inventory, availably of right spare parts at right time leads to high asset uptime. Enables spend analytics and the top management will have clear real time visibility spend trends and inventory turns, which will help them to take the apt decisions.

“Our expertise in handling large inventory data ensure that the clients to have optimal inventory, maximize the wrench time of the maintenance staff and the management team to have right spend analytics to enable them to take the right inventory decisions at right time”, says CK Bharathan , VP – Data services

About Enventure:

Enventure Engineering (www.enventure.com) is a privately-held, ISO 9001:2015 & ISO 27001:2013 certified Engineering and Supply Chain Solutions Company, with full-fledged delivery centers in India. Enventure has been serving clients in North America and Europe since 1997 and is today a preferred supplier of engineering and master data management services to Fortune 500 companies, across different industry verticals such as Hi-tech Electronics, Oil and Gas, Water Treatment, Automotive and Industrial Manufacturing. Enventure provides a wide variety of services to Clients, in areas such as Plant Design Engineering, Building Engineering, Master Data Management, MRO Data Services, Component Engineering, Environmental Compliance Support and Product Design.

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