Goodrich is a global supplier of systems to aircraft and engine manufacturers. They supply a wide portfolio of products – from actuation systems and landing gear to sensors, safety and engine control systems.
In January 2012 Goodrich ECEPS engaged the Inventory Management specialists at Gideon Hillman Consulting to undertake a complete review of their inventory planning approach, specifically within their UK Marston Green Spares Distribution and Maintenance facility.
“Whilst we were already achieving excellent service levels, and had clear inventory targets to maintain that service, I wanted to better understand and analyse the link between the service level and the inventory cost” commented Tony Upton, Global Spares Director, ECEPS Services. “…the Gideon Hillman Consulting team offered us a clear methodology to optimise our inventories, but also to demonstrate the exact relationship between inventory costs and service. They gave me confidence that with their support we would be able to continue our focus on delivering excellent service, but also minimise the working capital costs associated with inventory”.
“I’m delighted with the approach and models that the Gideon Hillman Consulting team delivered” added Tony Upton. “Not only do we now have the process, rationale and models to periodically optimise our inventories, but I can also use the models as a key management tool. I am now able to demonstrate and manipulate the links between inventory levels, service targets and ultimately operating cashflow”.