NEWARK, N.J., May 21, 2024 - GoComet, a leading supply chain visibility platform, announced the success of Essentra plc's digital supply chain initiative. At the end of the project, Essentra reported savings of nearly $150K in overall supply chain operations by leveraging GoComet’s solutions.
Prior to implementing the GoComet system, Essentra plc, a global provider of essential components and solutions operating across 25 countries with 12 manufacturing facilities and 23 sales and distribution centers struggled with a lack of visibility across its supply chain and insufficient insights into shipment delays.Faced with the need to cut costs and improve efficiency, Essentra turned to GoComet for a comprehensive solution.
Real-Time Visibility and Proactive Monitoring -
"We wanted to identify where delays were originating. Implementing GoComet's GoTrack enabled us to see delays and reconcile them in real-time. Nearly 70 percent of our shipments are now on time, and we receive proactive notifications for the remainder that are delayed, allowing for effective monitoring and timely intervention," said Sandy Gullis, Essentra's EMEA Freight Manager.
Streamlined Invoice Management -
By leveraging GoComet's GoInvoice module, Essentra significantly reduced email exchanges by uploading invoices and delivery notes directly into the platform for easy vendor access. "We eliminated the timely process of email exchanges," Gullis noted. This change resulted in substantial financial savings: a 4.38% reduction in costs through reverse auction savings and an additional 4.05% cost reduction.
Enhanced Operational Efficiency -
Essentra also standardized its processes across all sites, saving 759 hours per year, allowing employees to focus on their core competencies. Additionally, the company utilized GoComet's sustainability suite to track CO2 emissions from its shipments, aiding in sustainability reporting.
"Essentra now has a competitive advantage with unprecedented insights into its supply chain dynamics. With this knowledge, they are able to quickly adapt to changes and make informed decisions in an ever-changing supply chain landscape," said Gautam Prem Jain, GoComet CEO.
For more information, visit www.gocomet.com.
About GoComet:
GoComet is the world's most intuitive, easy-to-use supply chain visibility platform, powered by AI to automate end-to-end logistics for manufacturing companies. It enables businesses to leverage cutting-edge technology to innovate logistics and reduce costs. Utilized by enterprises across industries, GoComet combines data science with machine intelligence to maximize savings and make logistics management efficient and fast by reducing manual workloads, eliminating miscommunication, and leveraging data. Users gain efficiency and transparency in the freight procurement process and unique insights through auto-generated reports for fast, data-driven decision-making. GoComet serves over 500 enterprises, including Bazooka Candy, Lycra, Amcor, and General Mills.
