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IMV

The power of data

about the company

In 2020, one of the main telecommunications and digital solutions companies in the country, suggested to its suppliers to have a vendor managed inventory (VMI, for its acronym in English, Vendor Managed Inventory) in an easily accessible platform, which allows you to see in real time information related to your supply chain. FYCO, supplier of this company since 2016, started up and, after a deep analysis, developed its own VMI.

“At FYCO, everything revolves around the customer: a company asks for something and the team comes together to satisfy this need.”

Juliana Fuentes- Country Manager FYCO Colombia.

The Challenge

The first challenge for FYCO was to develop the VMI – a subject in which FYCO lacked experience – and offer the operator precise information in three areas: quantity of products in production, quantity in transit and availability for immediate delivery. This would allow the client to draw a complete mapping of the demand and the rotation of supplies.

Even when the development and implementation of a VMI requires a significant investment, the client is not obliged to purchase the products displayed there, so finding an alternative for those products that were overstocked was another of the challenges that FYCO had to face.

strategy

A solution known by the client.The technology chosen to develop the platform was Power BI, a Microsoft data analysis service with which the operator's staff were already familiar.

Talent dedicated to the project.After developing, from the IT area, an internal inventory report, FYCO hired a person to be 100% focused on the design of the platform.

Teamwork.Various areas of the company, including Administration and Finance, participated in the assembly process.

Understand what the customer needs.FYCO anticipated the client's supply needs to have supplies in stock (mainly fiber optics and NAP boxes) in a timely manner.

Products for critical sectors.The client requires its suppliers that the VMI shows that it actually has the requested inventory in real time in the three areas mentioned. However, you are not obliged to purchase all the products displayed. Faced with the risk of overstocking, FYCO implemented a VMI model for various countries in the region, which allowed it to offer products not purchased by the operator to other companies with a presence in Latin America.

Warehouse rental in China.In order to speed up logistics, large stocks were stored in warehouses in Shanghai, which allowed FYCO to have inventories ready to go from there to the country that required it (Colombia, Panama, Peru or Ecuador).

Results

Right decision to continue in the race

FYCO's decision to develop VMI as soon as the client suggested it proved to be very successful: soon after, the telecommunications operator demanded it as an essential requirement to participate in its tenders, which gave FYCO a significant competitive advantage.

Time optimization and data access simplification

Having the VMI helped FYCO's staff to optimize the use of their time: some queries related to the supply chain, which previously required controls, checks and internal meetings, are now resolved with just a couple of clicks from the platform .

Effective supply chain management

VMI enabled FYCO managers to quickly detect surplus or shortage, as well as understand when logistics are not effective. The statistics provided by this tool help to make better decisions in terms of business.

Added value for other customers

Following this initiative, FYCO is ready to proactively provide its VMI to other companies. In fact, in the bidding processes it already offers this mechanism, with the possibility of customizing the display and adjusting it to the needs and preferences of the client.

Customer satisfaction

Claro's Purchasing and Supply team was extremely satisfied with the product and service provided.

positioning

With this project, FYCO reinforces its position as an agile, creative provider, focused on the client, and technologically prepared to develop the solutions that its clients need.