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Transforming Inventory Management with DigitalThinker and Hexagon EAM

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Industry

Technology

Challenge

A global leader in lumber manufacturing needed to transition from site-specific parts lists to a unified global parts list in its HxGN EAM system. The company aimed to standardize its part numbering process and gather supplier part numbers for their current inventory, to improve inventory management and achieve significant cost savings.

Results

DigitalThinker restructured the lumber corporation's parts catalog from site-specific to a global catalog. By comparing supplier part numbers with existing numbers in Hexagon EAM, DigitalThinker eliminated duplicates and consolidated the parts records. This cleanup reduced the parts list from approximately 145,000 records to 52,000 records. The standardized part numbers and enhanced inventory management effort projected an estimated $12.6 million in savings over five years across 15 sites, to be achieved through inventory reduction, negotiated price savings from suppliers, and expedited shipping costs.

Key Product

HxGN EAM

93,000
Duplicate Part Records Consolidated
$12.6M
Projected 5 Year MRO and Inventory Savings
17%
Projected 5 Year MRO and Inventory Cost Savings
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About DigitalThinker

DigitalThinker is a leading provider of enterprise asset management (EAM) solutions, helping organizations streamline their operations and achieve substantial cost savings through innovative technology and expert consulting services.

The Challenge

Before working with DigitalThinker, the lumber corporation faced the complex task of managing site-specific parts lists across 15 of its locations. This decentralized approach led to inefficiencies, duplicate parts, and challenges in inventory management. They needed to shift to a global parts list, standardize part numbers, and collect supplier part numbers for their current inventory to improve accuracy and reduce costs.

The Solution

The lumber corporation discovered DigitalThinker through industry recommendations and was impressed by their expertise in enterprise asset management. They evaluated other solutions but ultimately chose DigitalThinker due to their proven track record and personalized approach. DigitalThinker restructured the parts catalog from site-specific to a global catalog and compared supplier part numbers with existing ones in Hexagon EAM. This meticulous process eliminated duplicates and consolidated the parts records.

The Results

The collaboration with DigitalThinker yielded transformative results for the lumber corporation. The parts list was reduced from approximately 145,000 records to 52,000 records. Standardizing part numbers and improving inventory management led to a $12.6 million savings projection for the first 5 years after implementation. Reducing MRO purchasing cost, MRO inventory, and MRO inventory holding cost projected to save the client 17% of its anticipated 5-year inventory budget. The corporation experienced enhanced operational efficiency and significant cost savings, solidifying DigitalThinker's role as a trusted partner in their success.

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