A Fortune 500 company with significant financial resources and people-power may not typically enlist the help of a supply-chain consultant to solve its logistics problems. One such company did, however, because its internal logistics resources were thin. Additionally, executives and other professionals who worked for the company already knew about its logistics troubles but had too many competing priorities to tackle them. Hiring LOTH Logistics as a consultant was the right decision, however, because the result was much more than the company’s executives expected. Let’s take a look at the process LOTH mapped to multi-million-dollar savings for this client.
As a consultant to our clients, the number one thing we do is listen. By listening, we gather information on the current state of our clients’ supply chain operations. We can then make recommendations for improvements once we understand where the opportunities lie. In the case of our Fortune 500 client, we worked together to define and rank these opportunities by the value of their return on investment potential and ease of implementation. The next step was to problem-solve.
In the problem-solving process, LOTH Logistics worked with our client’s logistics leadership members and other key stakeholders throughout the company to begin implementing process improvements. As these improvements went into effect, our client was able to see tangible improvements in results and substantial cost savings.
Additionally, our consultants suggested other actions the client could take that would complement the process improvements. For example, we developed an in-house solution to audit and pay freight invoices electronically with one check, once per week. This suggested action saved the company extensive resources and staff hours spent in freight processing. As well, this action reduced the number of paper forms used, which fell in line with the company’s environmental “green” initiative, taking 130,000 pieces of paper freight invoices out of the process annually.
Return on Investment
In the end, the return on investment for the client paid off to the tune of millions of dollars, plus it resulted in a marked improvement for that company’s customer service. LOTH Logistics’ information gathering, problem-solving and suggested actions far exceeded the executives’ expectations.
What can LOTH Logistics do for your business? No matter the size of your company, we can do the same for you in terms of collecting information about your logistics needs and working with you to solve those issues. Contact us today to learn more about the services we offer by calling 877-757-3030 or using our online form. Be sure to check us out on Facebook, Twitter or LinkedIn for our latest tips and updates!