Success stories | A Fortune 500 electronics manufacturer
Efficient supply chain with 90% turnaround time reduction
Repair services
Reverse logistics programs
Assimilation in EDI
Development of multiple billing capabilities
Efficient supply chain with 90% turnaround time reduction
Repair services
Reverse logistics programs
Assimilation in EDI
Development of multiple billing capabilities
Transparent data analysis
Client background
A Fortune 500 electronics manufacturer sought to enhance operational efficiency and reduce costs associated with warranty claims on units manufactured overseas by a contract manufacturer.
Problems
A 60-day average turnaround time for warranty claims necessitated excessive holding of safety stock inventory, impacting operational efficiency.
Overseas shipping expenses were seven times higher than domestic shipments, adding significant financial strain.
Returning units to the overseas contract manufacturer proved inefficient, further exacerbating turnaround times and operational costs.
Challenges
Integration of Renova Technology's repair services into the existing supply chain required seamless assimilation in Electronic Data Interchange (EDI).
Developing multiple billing capabilities to manage costs efficiently while maintaining transparency in pricing.
Ensuring transparent data sharing to identify failure trends and enhance production processes.
Solutions
Renova Technology collaborated with the contract manufacturer to conduct repairs domestically in the United States, streamlining the warranty claim process.
Seamless assimilation in EDI and development of multiple billing capabilities to facilitate transparent cost management.
Transparent data sharing enabled Renova Technology to identify failure trends and intercept "No Fault Found" units for cost-effective processing.
Results
Renova achieved a remarkable 90% reduction in turnaround time, decreasing it from 60 days to an average of 6 days
Switching to domestic repairs resulted in an 85% reduction in shipping costs, while Renova's cost-effective processing of "No Fault Found" units further minimized expenses.
The shortened lead time led to a 36% reduction in safety stock inventory, enhancing overall supply chain efficiency.
The program's success led to the renewal of the service contract with Renova Technology by the original equipment manufacturer, with further collaboration requests from the contract manufacturer for future projects.
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