Performance Challenge
A major petroleum company had several manual issues that led to incorrect inventory balances. Users manually updated inventory balances across storage facilities, relying on RightAngle data. This process was error-prone and time-consuming, especially during month-end closing. It required several employees to spend several hours daily, with additional hours to correct discrepancies. Inventory data was also manually transferred from RightAngle to Excel daily, lacking automation for efficiency.
Value Creed’s proposed solution approached these challenges with our proprietary digital transformation strategies. The business can now make the current process efficient for the users by reducing manual efforts, improving accuracy, providing timely information, empowering better decision-making, and generating cost savings for the business.
KEY RESULTS
$280,000
Annual Cost Savings: Automated data comparison, reconciliation of inventory transactions, and distribution of inventory data from multiple reports
90%
Time Savings: Efficiency achieved by automating manual inventory management tasks
Digital Transformation & Advisory Services
Our team of experts invested time in understanding the business’s needs and challenges, creating a solution featuring four specialized jobs: Physical Inventory Interface, Terminal Inventory Recon, Auto-Agree, and Third-Party Inventory Outbound. These jobs automated data comparison, updates, reconciliations, and scheduled report distribution.
Additionally, we developed custom reports updated by these jobs. This solution saves significant time and money by automating manual inventory tasks (estimated at 18-21 hours daily) and digitally transforming the inventory reporting system. To address the business needs, we delivered a comprehensive solution to achieve the desired results through the following services:
Business Analysis: Our team assessed the client’s business needs, gathered information, and analyzed data to identify areas for improvement.
Solution Design: We created a solution design that met the client’s requirements and incorporated best practices for digital transformation.
Custom Reports and Jobs Development: We developed custom solutions in RightAngle to automate and streamline the client’s business processes.
Data Integration: We integrated data from multiple sources and developed data integration solutions to ensure data accuracy and completeness.
Quality Assurance and Testing: We ensured the quality and reliability of the developed solutions through rigorous testing and quality assurance processes.
Project Management: We managed the project to ensure timely completion within budget and meeting client requirements.
Value Creed Services Mobilized:
Advisory Services
Advisory Services
Our Advisory services not only will help you guide your operations but also help you achieve your vision by taking all stakeholders into consideration. Our highly experienced team has combined full lifecycle, functional and technical expertise to deliver frameworks and guidance around building reliable and scalable commodity trading businesses.
Digital Transformation
Digital Transformation
Obtain the most appropriate and useful data for your specific needs! Value Creed offers a range of services to support you during your data transformation journey. With expertise in data integration, reporting, and performance optimization, we assist in ensuring that your data is optimized for analysis, visualization, and validation.
Key Takeaways
Value Creed offers a full suite of services to provide a comprehensive solution tailored to meet client’s needs and enhance their business processes. With our RightAngle customizations, users could streamline the inventory reporting process with the help of detailed insights into their inventory positions. Our customizations’ real-time reporting capabilities helped manage inventory positions and mitigate any potential risks proactively. This digitally transformational approach resulted in substantial cost savings and time, reduced manual efforts, improved accuracy, and provided timely information. Additionally, the ongoing support from Value Creed ensured the continuous value delivery to the business.
Contact us today to learn more about our digital transformation solutions.
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