Recognized for transforming Fortune 500 client’s asset recovery, saving $3.6M annually and boosting end-customer satisfaction
ASHLAND, MA – June 28, 2016 – OnProcess Technology, a global pioneer in service supply chain management and optimization, today announced it has been named to the exclusive 2016 Supply & Demand Chain Executive Top 100, an annual award showcasing supply chain projects that have delivered significant business impact. OnProcess was recognized for optimizing a Fortune 500 technology client’s global asset recovery, saving them more than $3.6M annually in inventory and labor, while improving their communications with carriers and 3PLs.
“Our goal with this year’s Supply & Demand Chain Executive 100 is to put the spotlight on successful and innovative transformation projects that are delivering bottom-line value to small, medium and large enterprises across the different functions that comprise the supply chain,” said Barry Hochfelder, editor of Supply & Demand Chain Executive. “These projects can serve as a roadmap for supply chain executives looking for new opportunities to drive improvement in their own operations.”
“We’re honored to be recognized by Supply & Demand Chain Executive. The Fortune 500 EMEA asset recovery engagement that led to our selection exemplifies the profound impact OnProcess’ managed services have on optimizing clients’ post-sales supply chain operations and improving their business outcomes,” said Mike Wooden, CEO, OnProcess Technology. “By leveraging our advanced, predictive analytics models and decades of service supply chain expertise, we’re able to save clients many millions of dollars annually, help them reap significant revenue gains and dramatically improve their customer experience.”
In the project that earned OnProcess a spot in the Top 100, the company covered 31 countries in 16 languages and drove the recovery of more than 250,000 parts annually. OnProcess used its proprietary technology platform to provide broad visibility into the client’s asset recovery operations via velocity, country-specific and delivery-model reporting, non-return segmentation, detailed status codes, and more. This, combined with OnProcess’ advanced analytics, provided the insights needed to drive significant process improvements. For instance, by identifying the impact of delayed scans and parts not recognized in various warehouses, OnProcess enabled much-improved communications with carriers/3PLs and streamlined operations. To achieve superior recovery rates, it implemented best practices including reverting to one carrier for all shipments in a country, local escalation support, and booking collections on behalf of customers—the latter of which simplified returns for customers and helped increase their satisfaction. OnProcess consistently recovered 95% of returnable parts in 60 days, enabling the client to repurchase significantly less equipment, to the tune of $2.1 million annually. It also spends 50% less on asset recovery personnel and related services, enabling $1.5 million of cost avoidance.
The 2016 Supply & Demand Chain Executive 100 are supply chain solution and service providers that are helping their customers and clients achieve supply chain excellence. They have produced measurable gains in ROI through cost-cutting and increased efficiency, whether in warehouse, transportation, procurement, sourcing or any other category in the end-to-end supply chain. Submissions were evaluated by the magazine’s editorial staff based on the ambitiousness of the project, creative application of technologies and services, and business impact. www.SDCExec.com
About OnProcess Technology
OnProcess Technology is a managed services provider specializing in complex, global service supply chain operations – the flow of people, parts and services following the sale of a product. The company’s deep expertise, technology-driven delivery and continual analytics-based process improvement, enable clients to quickly optimize efficiencies, scale operations, grow revenue and profitability, and deliver superior customer experiences. OnProcess provides services in 26 languages and operates in eight global facilities, including its Massachusetts headquarters and facilities in Maine, Costa Rica, India and Bulgaria. www.onprocess.com
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