Veraction Transportation Spend Management Solution Provides Enhanced Visibility and Efficiencies for International Retailer
Savings of 8% from eliminating manual labor and improving quality through automation.
The Client & the Challenge:
When one of Veraction’s most loyal clients – a leading international retailer – told us “we’re tired of the same old picture and want to see our data in HD,” we jumped at the chance to help bring clarity to their transportation spend processes.
One of the key metrics in managing an inbound supply chain is the total transportation cost of a particular SKU or product category. In this case, the client requested specific assistance in:
- Automating various manual processes to reduce data manipulation and to improve accuracy and efficiency
- Building complex SKU-level matching, proration and total cost estimation
- Providing business intelligence (BI) tools to respective product-line stakeholders
The Veraction Solution:
As a result of our consultative analysis, we implemented the following steps:
- Developed a master data-management strategy to automate data capture, integrated various platforms and normalized data in a central repository, reducing manual processes.
- Established strict data-quality rules with LSPs by moving them to an electronic billing format.
- Leveraged the Veraction Business Intelligence platform to automate data transformation and provide greater clarity to transportation costs via a web-based portal.
Veraction’s solution helped the client discover and correct a number of inefficiencies, leading to the following bottom-line results:
- An 8% savings from eliminating manual labor and improving quality through process automation.
- Balancing inventory costs with expedited air freight costs at the SKU level, leading to an overall reduction in inventory carrying costs of 3% net of increased transportation cost by shipping expedited vs. over the road.