Client: Global Packaged Foods Producer
Problem:
A global manufacturer and marketer of high-quality, brand-name packaged food products had to close a major facility and sought to manage and minimize the costs associated with the shut down. Fast work, cost, balance sheet integrity, and financial accountability were key considerations for this engagement.
Scope of Work:
Manage the closure to minimize ongoing cash outlays, account for all asset activity and achieve maximum recovery of assets.
What Quantalyst Did:
- Comprehensively inventoried all plant assets
- Established a database reporting and tracking tool.
- Reconciled physical inventory to the booked asset records to enable proper documentation of both asset transfers and of all charges against reserves.
- Inventoried, bagged, tagged and implemented a database tracking tool for all maintenance and spare parts inventory.
- Trained remaining employees to manage the asset databases to ensure accountability for all asset activity.
- Negotiated and closed all open purchase orders related to the site.
Results:
- Complete plant closure using client employees without requiring temporary workers.
- Maintained the morale and initiative of remaining employees throughout the engagement.
- Recovered over $500,000 in maintenance assets through return of eligible spares to vendors for credit, direct sale to equipment buyers, and utilization in remaining corporate sites.
- Protected reserves by ensuring the proper transfer of values for equipment transferred to other corporate sites.
