End inefficient, costly procurement processes
A large part of process costs can be due to inefficient inventory management. This particularly applies to low-value, fast moving industrial consumables. Overstocking, poor stock monitoring, shrinkage and availability issues lead to lost productivity and downtime.
The University of Sheffield is one of the 24 Russell Group universities – committed to research, it also prides itself on having excellent links with business and the public sector. The university has a vibrant and successful Faculty of Engineering, which is number one in the UK for engineering research income and investment. The Faculty has more than 6,700 students and an annual research income of over £120m. In 2017, it opened a student-led workshop and makerspace facility called the iForge, located in the Diamond – a University building renowned for providing practical engineering learning and teaching opportunities.