We carry far less excess, and our stock turn has increased to over 4.8, exceeding our original target by 20%." James York"
Project Scope
For over 45 years, Springpack has provided businesses with cost-effective and efficient packaging solutions, offering everything from bespoke cardboard boxes to personalized tape. Committed to maintaining industry-leading service standards, Springpack embarked on a business-wide optimization initiative as part of their 5-year plan, with supply chain innovation being a top priority.
James York, Managing Director, emphasized the importance of having the right stock to meet customer packaging needs while adopting sustainable business practices to reduce carbon emissions and eliminate waste.
Why Slimstock?
Springpack took bold steps to build a greener operation, rethinking their sourcing strategy and implementing a more sustainable delivery program. Mark Clements, procurement director at Springpack, highlighted their continuous pursuit of smarter ways to work.
To establish effective supply chain processes, Springpack partnered with Slimstock, whose supply chain optimization platform, Slim4, was chosen for its ability to support the complexities of their supply chain while integrating seamlessly with their existing ERP, Netsuite. James York, having seen Slim4’s results firsthand in a previous company, was confident that Slimstock was the right partner to achieve their ambitious supply chain KPIs.
Challenge
Springpack’s team previously managed inventory levels manually, which was labor-intensive and prone to errors. To maintain their 5-star service standard amid business growth, they needed to bring science to their supply chain processes.
As Covid-19 disrupted global supply chains, it became crucial for Springpack to stay focused on their supply chain and sustainability goals while quickly adapting to immediate challenges.
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Responsive Supply Chain Management
Slim4 allowed Springpack’s planning team to respond swiftly to evolving market conditions by automatically recalculating order advice as parameters changed. This ensured a balance between flawless availability and optimized costs. Slim4 eliminated guesswork from the ordering process, helping Springpack maintain the right stock at the right time, leading to a service level improvement to 98% across their most important product lines.
Efficiency Boost
Slim4 significantly boosted efficiency within Springpack’s inbound logistics operation. With advanced container fill functionality, the planning team could optimize every supplier order with a click. This strategic approach to ordering reduced excess inventory and increased stock turn to over 4.8, surpassing their original target by 20%.
Reduced Carbon Emissions
Operational improvements delivered by Slim4, combined with other initiatives, have been instrumental in Springpack’s journey toward carbon neutrality. Increased product availability reduced backorders and minimized repeat deliveries, lowering the overall number of truckloads. Realigned inventory levels allowed Springpack to hit availability targets with less stock, cutting external storage capacity by two-thirds and reducing internal transfers by 80%, significantly decreasing their carbon footprint.
Next Steps
Having completed the 5-year plan a year ahead of schedule, Springpack is focused on further efficiency and sustainability improvements. With growth on the horizon, they are preparing to move to a larger warehouse facility, where Slim4 will help negotiate larger volume discounts from suppliers.
Reflecting on the project's success, James York concluded, "We are now far more proactive, and our supply chain is leaner than ever before. We are excited to work with Slimstock as we embark on the next phase of our optimization journey.