Today at SAPPHIRENOW as part of the Demand Network Panel Discussion, Will Foster, IT Director in Enterprise Application at Medtronic discussed the benefits of Enterprise Inventory Optimization to his company. Will explained his role as the “global process owner for everything in the PLAN process area, which includes Demand & Supply Planning along with production planning”. From an applications approach he is responsible for SAP ECC, SAP APO and Enterprise Inventory Optimization (EIO) applications.
Will gave an overview of Medtronic, who are a global healthcare solutions company committed to alleviating pain, restoring health and extending lives of people through medical technologies, services, and solutions. They create meaningful innovations for hospitals, health systems, and health care providers so they can deliver the best care possible to patients and their families around the world.
Implemented SAP Enterprise Inventory Optimization globally across multiple business units
Will discussed the highlights of implementing “multi-echelon inventory planning” across the company and how it:
Enables total supply chain view for all items at all stages
Considers desired service levels and captures variability within network
Synchronizes operations within enterprise systems
Provides insight to supply chain performance and process improvements
Provides significant safety stock reduction
Enables reporting to assist with Input and Output accuracy
Will also touched upon the business benefit achieved to date:
Reduced overall weekly planning cycle duration by >50%
Finished Good & Semi-Finished Good safetystock reduction across Supply Chain
Service Level Agreement monitoring through weekly optimization monitoring metric
Improved forecast accuracy and bias improvements
In-depth visibility to entire Supply Chain
Improved master data control and accuracy for data input elements
Integrated alignment between Demand and Supply
Drives process design continuous improvement
This was a great discussion and was well attended by a “standing room only” audience.