Pharma company aims to reduce inventory by tailoring capability-building program to its supply chain employees
Strengthening Inventory Capabilities for a Competitive Edge
A global pharmaceutical company needed to reduce its net working capital to be on par with its competitors. To accomplish this, the company teamed up with Prokura to create an inventory capability-building program that strengthens employees’ skills across a global supply chain organization.
Solution
With Prokura’s support, the company set its sights on first creating a new inventory planning mindset. The objective was to improve net working capital by reducing global inventory, using the same methodologies and principles across all sites.
The program was structured around lectures and hands-on experiences, supported by a co-developed handbook backed by the newest market insights and best practices, combined with the company’s new way of working with inventory.
The program was divided into four modules and a case day. Each module of the program had a unique focus but was designed to provide new knowledge for the other modules. All modules had ready-to-apply methodologies and principles for employees’ daily work. Exercises were designed to provide hands-on experience with inventory management. The exercises were tailored to the company’s supply chain structure, product portfolio, and data—all designed to make sure that the program was relatable and could help employees embrace a new mindset for accomplishing the corporate goal of improving net working capital.
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The program ended with a case day. Every employee was given a problem to solve in their own organization based on real-life inventory challenges where immediate improvements were needed.
This program not only efficiently improved global capabilities, but also helped the company rapidly onboard new employees.
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