21 Nov Case Study: Terex
Terex Corporation is a diversified global equipment manufacturer. The company is famous worldwide for safely building, designing, selling, and servicing high value construction and lifting equipment. Its products maintain high performance levels, allowing for superior productivity and return on investment.
Terex wanted to improve its supply chain management by establishing a more efficient price tracking mechanism and increasing communications and negotiations with its suppliers. Essentially, the company required a web-based system that automated project information and tracking within its supply chain. This would allow Terex to better focus its overall business objectives and increase productivity for assembly and manufacturing.
Akvelon performed the initial scoping and created the requirements and design of the system. As a result of this work, and Akvelon’s reputation for completing entire projects efficiently, Terex asked Akvelon to handle the project end-to-end.
Akvelon successfully built the Global Sourcing Project Tracking System for Terex. The system efficiently tracks costs and company savings and integrates them into powerful, interactive reports. Those customizable auto-reports can be exported directly to Excel. Overall, by pulling data from an Oracle ERP, our solution effectively handles complex financial modeling and analysis for Terex. The system also allows users to attach files, add milestones or tasks, and create logs for issues and action items. Akvelon utilized MS SQL Server, .Net, Java Script, and XML to develop the system while adhering to a strict project timeline.
In addition, our solution tracks and records multiple variables, such as:
• Price Changes
• Delivery Costs
• Supplier Switches
• Price Variations in Different Locations
Benefits & Results
The project’s key outcomes:
• Improved supplier relations. Terex was able to organize essential pricing data and negotiate with suppliers in varying locations more efficiently.
• Improved savings. The system provides more extensive and accurate financial modeling, as well as allowing the company to better forecast costs and plan accordingly.
• Increased efficiency. Users can find pricing and supplier information with greater ease and speed, while being able to analyze the data in a more organized way.