Creating Business Value With Mareana
When it comes to solving data problems at scale in global organizations, you need a technology vendor who's been there. You need a partner to help you see the big picture, but also be able to actually solve the problem, fast. The Mareana team has logged thousands of data dives with global market leaders. Along with our experience implementing our technology, we will bring plenty of ideas and examples of how we can help your company thrive with data—yours, or in conjunction with other sources, regardless of the data's quality or format.
INCREASING SALES WITH PRODUCT RECOMMENDATIONS
Every company wants to sell more to its existing customers with recommendation engines, but a complex industry like medical devices presents unique challenges to most off-the-shelf technology solutions due to the need to integrate many kinds of data sources—from design drawings to Medicare data. For one global medical devices manufacturer, the Mareana team used qFind to digitize thousands of SKUs from mixed quality sources, then created a custom product recommendation engine.
With a new easy-to-search portal that can now access previously hidden files, images, and data, this company improved sales within one quarter. Sales and support teams are now equipped to suggest new products and prioritize sales opportunities for new customers based on prior successes. They can also easily identify substitutes during stock-outs, and instantly answer complex customer inquiries, including those requiring competitor product data.
REDUCING INVENTORY AND DISTRIBUTION COSTS
In manufacturing, making trade-offs between availability and carrying costs are a part of life. As global supply chains become increasingly fragmented due to the use of both in-house and outsourced distribution, making these trade-offs is getting harder. Ongoing stock-outs were a problem for one Mareana client, with no apparent cause. Within 8 weeks, Mareana's team, using qSync, identified and solved the problem: an inconsistent set of data standards which was obscuring true inventory levels.
By creating a global inventory view, and consolidating the data from the entire supply chain, the procurement team was able to hunt down global variances by plant, commodity, or supplier. As a result, this manufacturer reduced inventories by 10% and dramatically reduced product stock-outs.
EXPIRY WASTE REDUCTION
Expiry management is a challenge in all industries, but if you have shelf life limits to components as pharmaceutical companies do, the complexity and urgency escalate. With an increasingly complex supply chain, a global pharmaceutical giant was mystified by a sizable number of product discards, even with a mature procurement and planning process.
Mareana used qScience to analyze the problem and quantify the root causes. Machine learning and multiple simultaneous mathematical modeling revealed the key factors in materials and batches that drove component discards. After addressing factors like batch sizes, delivery windows, and lead times specific to each individual component and plant, this client has saved $30MM/year in reduced product discards.