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Optimizing Raw Material Procurement in Steel Manufacturing with IPA

Client Background

A leading steel manufacturing company, facing challenges in raw material procurement, struggled to maintain optimal inventory levels due to volatile market conditions. Manual processes led to supply chain bottlenecks and increased costs.


Challenge

The company faced difficulties in maintaining optimal inventory levels of iron ore, coal, and other raw materials due to volatile market conditions. Manual procurement processes resulted in supply chain bottlenecks and increased costs, as the team encountered challenges in adapting to changing demand patterns swiftly.

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Solution

Recognizing the pressing need for a transformative solution, our team proposed an Intelligent Process Automation (IPA) system. This system seamlessly integrated with the company's ERP and supply chain management software, creating a unified and data-driven procurement approach. The key components of the solution included:


  • Real-Time Data Integration: The IPA system harnessed real-time data from a myriad of sources, including market indices, production schedules, and supplier performance metrics. This allowed for a holistic view of the procurement landscape.


  • Data-Driven Procurement Decisions: The system's analytics engine processed the integrated data to make informed procurement decisions. It factored in market trends, production requirements, and historical performance, leading to precise purchasing choices.


  • Automation: The IPA system automated key processes such as purchase orders, supplier communication, and inventory management. This increased the efficiency of procurement operations.

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