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Flying Monk Group - Specialist Purchasing & Supply Chain  consultants
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Purchasing & Inventory Management Turnaround

Healthcare / Medical Products

Issue

  • This £200m turnover business had grown by acquisition, over recent years, resulting in multiple different processes, procedures and policies, all supported by separate management and corporate computer systems.
  • The parent company were looking for assistance to integrate and consolidate, in line with 'best practice', into a single cohesive whole.

Solution

  • Worked with the Managing Director, and Purchasing Director,to: -
    • review current Purchasing & Inventory Management practice against 'best practice'
    • develop, and implement, a strategy / improvement action plan
    • determine new 'Front End' ranges and stock displacement policies
    • identify, and remove, surplus inventories (multiple £m)
    • define, and implement, new commercial control processes across the business
    • run the Inventory Management team whilst embedding new processes and practice

Benefits

  • Successfully developed, and implemented, new processes, policies and procedures covering:
    • Inventory Classification & Management
    • New Product Introduction
    • Range Management
    • Sales Forecasting
  • Helped identify, and remove, multiple £m of 'surplus' inventories
     

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