Optimized Performance

A national food company reduced inventory loss, slashed audit time and increased efficiency and profits with a new end-to-end solution.

July 29, 2020

End-to-end solution delivers insights, compliance & profits.

Scenario

A national supplier of custom spice blends for restaurants, grocery stores and food manufacturers with $12 million in annual revenue still relied on an off-the-shelf accounting program to run all business operations. Their inability to view inventory at the lot level and to access real-time inventory data contributed to processing delays. Written-off product resulted as they could not implement a first-in-first-out approach. Required audits were completed via a manual, hardcopy process that was overly labor-intensive and took employees’ time away from other tasks. Driven by a need to reduce losses and improve efficiency, the company turned to AltSource for help.

Solution Features

  • Inventory management software provides real-time insights into stock levels.
  • Lot auditing tool expedites auditing and provides multiple ways to complete audits.
  • Data collection and reporting functions allow business to make real-time data-driven decisions.
  • Integration with accounting software streamlines financial processes.
  • Technologies: Angular JS, Entity Framework.

Business Impact

  • Reduced written-off inventory loss by 99% within 1 year.
  • Slashed audit completion time from 1 week to 5 minutes.
  • Improved data and auditing accuracy.
  • Increased profit margins by 2% within 1 year.