Drive value and results beyond your procure to pay processes by extending benefits and intelligence to inventory, receiving, project control and other dependent business processes.
From the warehouse to the stock shelves, businesses have significant dollars tied up in everything from computer equipment to hospital supplies to strategic MRO materials. Understanding the inventory you have on-hand is one level of complexity but combining that knowledge with replenishment requirements and stock re-order points and then connecting to your procure to pay solution requires Xeeva’s Extended Enterprise solution. By unlocking even greater value from your procurement solution investment, we transform managing your inventory from a tactical slog into a strategic advantage by freeing up cash, reducing expenses and ensuring you have what you need, when you need it and where it’s needed.
Xeeva Extended Enterprise includes an inventory module that can operate standalone or fully integrated with our procure to pay solution. Users establish store locations in the system, items are marked consignment or non-consignment (owned) and initial inventory levels are established including re-order points and identification of critical spares or supplies.
Our solution allows you to monitor inventory levels in real-time regardless of whether those materials are owned or supplier consigned. As real-time transactions are initiated through the system, levels are tracked and replenishment from the warehouse is managed. Based on the min/max re-order points you specify, goods can be auto-reordered or reviewed by the procurement team for new quotes, new POs or any transaction that might be required to ensure that there’s no interruption to the supply of mission critical materials.
The solution includes powerful cycle count functionality which allows users to schedule stores inventory for periodic counting by item type and track the results of that counting process to ensure extremely high inventory accuracy rates.
Stores, warehouse, technical staff can access the system from anywhere including through mobile devices and tablets.
Robust reporting drives compliance and accountability by providing managers with a complete view into inventory levels at a local and global level. Trends are analyzed, inventory can be levels re-optimized based on historical usage and stock-outs a thing of the past.
Free up cash. Poorly managed inventories often lead to significant excess inventory. It’s not uncommon for Xeeva to see a 20 – 25% inventory reduction as a result of implementing our solution. Reductions of this size help clear up the balance sheet while improving cash flow. Literally, every dollar out of inventory is a dollar less or working capital required – also helping to improve your overall cost of capital as you borrow less.
Reduction in parts / item complexity. Particularly in a dispersed plant environment, users of the Extended Enterprise module first standardize parts and item numbers across the entire portfolio of spares and MRO materials – this identifies areas for supplier and category consolidation – often on a global basis to achieve not only a simpler catalog but to unlock value from the sourcing process as your procurement professionals now have a cleaner view into total spend.
Optimize inventory levels and increase turns. Carrying unneeded inventory ties up cash unnecessarily and can also result in obsolescence and expensive write-offs. Carrying too little inventory and you run the risk of not having exactly what you need – adding potential risk for your business. Optimization means exactly that – understanding the precise relationship between supply (either in inventory, in transit or on order) and demand. Xeeva also allows you to determine higher priority items – ones where your risk tolerance is much lower and therefore requires more of a buffer to ensure availability.
Ensure uninterrupted operations. Whether operating a plant, keeping the hospital supply cabinet full or onboarding a new employee, downtime is the enemy of productivity and in some cases – profit. Supply interruptions occur because of poor visibility into inventory and internal customer needs, lack of a closed loop procurement process and myriad other reasons solved by implementing an automated procure to pay solution like Xeeva’s combined with our Extended Enterprise capabilities.
Reduce overall costs and MRO overhead. With inventory reordering automated, more accurate cycle counts, reduced parts obsolescence and productivity improvements across the supply chain you can experience at least a 5 – 10% improvement in operating costs across your indirect supply chain. Additional gains come as employees are guided to order only from pre-approved suppliers with the most advantageous pricing rather than one-off maverick buys which negatively impact your bottom line.