The CFO of Titan International, a world-leading manufacturer of off-the-road tires and tracks, describes how Maine Pointe's Total Value Optimization (TVO)™ approach helped deliver measurable value during the pandemic, improve competitiveness and position the company for growth.
The video describes:
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The challenges facing the organization, including competitive and commodity headwinds
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The solutions, such as strategic sourcing and SIOP, were implemented as part of a step-by-step TVO transformation journey
The Results:
- Saved 15% in procurement of logistics (TL and LTL), 7% in steel (in a rising market), and 19% in MRO/indirect
- Developed reliable data and improved demand forecasting
- Implemented S&OP processes for continued planning and manufacturing efficiencies
- Developed an annual sourcing plan for cross-functional teams to follow for future benefits
- Challenged and, where appropriate, replaced incumbent suppliers with alternative qualified suppliers for some materials
- Achieved a 4:1 engagement ROI
- Improved profitability by 11%