October 4, 2020
Case Study – Inventory Optimisation & Refurbishment
This customer is a world-leading premium alcoholic drinks provider. They operate in over 180 countries around the world and are…
We offer a full end-to-end global procurement solution which delivers the best value, whilst ensuring the quality and integrity of the supply chain. Our Supplier and Product Identification, grading, and assessment processes assure our customers that the product we supply is fit for purpose and sourced in accordance with ISO9001 quality standards.
We have access to over 5,000 global suppliers who work to TVS SCS compliance standards, as well as meet existing requirements. This adds value to our clients as they receive parts from industry-leading manufacturers and a centrally approved supply chain.
Quality of Purchased Products
Before the onboarding of a potential supplier, a Supplier Quality Assessment process is implemented which includes a thorough review of a Supplier’s suitability, capability and commercial standings. All new items to be supplied undergo a Part Validation Assessment, which ensures the requisite quality of an item prior to it entering the supply chain.
A robust supplier quality assurance process manages any non-conformance in a timely and professional manner from quarantine through root cause resolution, minimising disruption to the supply chain.
A Category Management Approach
A category management approach, using market and domain expertise, drive the optimum solution by category. We determine product groupings, along with the most intelligent purchasing strategies, to optimise value for money through the lowest total cost of acquisition, not just the lowest price to purchase. All activities are focused on developing the most direct routes to market, with the addition of supply chain coordination ensuring product availability.
Savings are passed back on a shared arrangement delivering long term benefit to the Clients.
Supplier Relationship Management
TVS SCS has a comprehensive approach to managing and capturing the value from key business relationships. Supplier agreements are in place to ensure we have a long term commitment for our strategic suppliers, and to set out key performance metrics, as well as relevant Client flow downs. We also monitor supplier performance monthly through the use of our supplier scorecard and strategic reviews.
Proactive obsolescence management is supported through open relationships and contractual arrangements with suppliers, identifying alternative supply through an optimum solution.
TVS SCS Procurement team comprises Chartered Institute of Procurement & Supply qualified buyers and engineers, ensuring that all procurement activity within our business is carried out sustainably. Buyers undergo periodic training in ethical procurement, ensuring that the TVS SCS’ supply chain is wholly aligned with its principles. Contract flow downs and supplier audits provide an ethical, environmental and sustainable supply chain.
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Outsourcing the global procurement and supply chain function, allows a business to focus on its core operations, whilst a specialist delivers additional value through the management of the procurement function. It provides access to highly skilled procurement experts utilising class-leading IT systems without significant outlay and in an expedient manner.
Benefits of outsourced procurement include access to an approved global supply chain, increased availability of products at a lower cost to serve, a category management approach to drive value, increased market leverage through consolidation of spend and improved management information and analysis to make appropriate decisions.
An effective procurement strategy creates a transparent process and priorities for managing spend within an organisation. A good global procurement and supply chain strategy makes an organisation more efficient, more competitive and more agile whilst aligning the business strategy to support the growth and direction with an alignment of policy and principle, as well as improving quality, reducing cost and driving additional profit to the bottom line.
A procurement strategy will include an assessment of the supply chain to identify any weaknesses and risks. Based on the risks identified, a strategy is implemented to best manage the risks either through elimination or reduction where there is a single source of supply. The risk matrix will identify a solution to protect the supply chain for the long term and compliment and business continuity plans.
TVS SCS has standard supplier management processes at all its business units across the globe. This allows for the consistent management of suppliers including quality, ethical, environmental and sustainable practises and audits. These audits are carried out both in-person and using collaborative technology.
Supplier agreements flow down all contractual requirements against which a supplier’s performance will be measured, with a scorecard and supplier rating created and issued every month.