SLIMSTOCK ENHANCES ENG SOON AUTO’S INVENTORY

The company reports an inventory reduction of six percent

Eng Soon Auto is a leading distributor of genuine and OEM BMW and MINI automotive parts in Singapore.

Following the successful implementation of Slimstock’s Slim4 inventory optimisation software, Slimstock says that within the first six months the company achieved a six percent reduction in inventory while simultaneously increasing sales by five percent.

Distributing more than 50 brands and over 100,000 different spare parts across South East Asia, Eng Soon Auto strives to cater to the local needs of its customers.

Since 1987, the business says it has built a reputation for “providing top-quality products at the best value; all while ensuring an efficient customer experience.”

As a major stockist in the automotive industry, Eng Soon Auto reportedly offers one of the most complete assortments of products available in the market.

However, this can often lead to overstocking and, consequently, an increased risk of obsolescence.

As a result, the business needed a solution that could help the team to forecast and manage the inventory more efficiently.

Within the first six months of implementing Slim4, Slimstock says Eng Soon Auto had already achieved a six percent reduction in inventory value without compromising on service.

Pleased with the results so far, Eng Soon Auto Head of Operations, Ng Zu Xiang, praised Slim4.

“I think the biggest impact for us has been that Slim4 has helped us to increase our service levels while still reducing inventory levels,” Ng Zu Xiang said.

Eng Soon Auto Director, Ng Zu Sheng, said that Slim4 is efficient and user-friendly, stating that as a result of the visibility provided over the inventory, he has been able to streamline processes.

Prior to using Slim4, Eng Soon Auto’s purchasing method required a high degree of manual intervention and there was no standardised process for procurement. Items were replicated across two warehouse locations resulting in additional procurement and transportation costs.

With Slim4, the planning team is now able to forecast and purchase at a total level while simultaneously redistributing and balancing inventory across both warehouses.

Furthermore, with the Product Life Cycle function of Slim4, the inventory optimisation solution is also able to support the introduction of new items and provide insights into every specific phase of the product life cycle.

Ultimately, the automotive specialist is now able to work far more proactively when it comes to improving their business, says Slimstock.

“Slim4 is able to provide me with timely purchasing signals to ensure that we have sufficient stock for the upcoming period,” Ng Zu Sheng said.

“It tells me exactly when and what to order, as well as which products need urgent attention. A more complete range of products are now available, preventing our customers from waiting too long.”

Underpinned by service levels and availability, Slim4 has played an important role in helping Ng Zu Sheng to achieve the company’s KPIs.

Since Slim4 went live in August 2018, Eng Soon Auto reached its targeted service level across all of the product categories.

On top of that, the brothers appreciate the continuous development of Slim4 as well as the solid partnership they have built with Slimstock’s expert consultants.

“The team at Slimstock is always around the corner to help provides us with great confidence, as we explore new ways to further optimise our inventory, we look forward to working together with the team at Slimstock,” Ng Zu Sheng said. Slimstock explains that Slim4 has been dynamically optimised for the automotive industry when it comes to fast-moving and longtail products.

It says the sophisticated design of the software drives higher service levels as you reduce stock throughout your network.

Slimstock states it is a world market leader in inventory optimisation, providing user-friendly yet sophisticated inventory solutions to customers across industries like Automotive, Retail and Manufacturing.

Headquartered in the Netherlands since 1993, Slimstock has offices in 22 countries including Australia and Singapore.

Slim4 is designed and built to seamlessly integrate with any ERP system.

Slimstock explains that more than 1400 organisations worldwide are backed by Slim4 to date, “ensuring they have the right stock, at the right place, at the right time – giving customers the confidence to achieve operational excellence.” Slimstock invites you to speak to its inventory experts at Autocare at booth 32, or visit www.slimstock.com for more information.