Category: Automotive Manufacturing, Machine Shop, General Manufacturing, Truck & Trailer Manufacturing
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Tiger Tool International Achieves Growth with ERP
Headquartered in Abbotsford, British Columbia, Global Shop Solutions customer Tiger Tool International designs and manufactures specialty, precision tools used in the maintenance and repair of light- and heavy-duty trucks and commercial vehicles. They distribute their products to truck and auto repair facilities throughout North America and Australia.
In 2008, company management looked ahead and, seeing rapid growth on the horizon, recognized the need for a more integrated business management system. After exploring several comparable ERP systems, they chose Global Shop Solutions for two main reasons – its excellent fit with Tiger Tool’s manufacturing environment and its superb integration between modules.
Big Reduction in Inventory Carrying Costs
Before implementing Global Shop Solutions, Tiger Tool struggled to effectively manage inventory for raw materials and finished parts. After implementation, Tiger Tool has reduced inventory carrying costs by 27% and back-orders from 3% to zero. Not only were they able to make those reductions, but now they have real-time access to their inventory data to make proactive business decisions.
Accurate Closing and Real-Time Costing
Company Controller, James Blair, oversees the financial side of Tiger Tool’s business. He makes extensive use of Global Shop Solutions’ accounts payable, accounts receivable, and general ledger features.
“With Global Shop Solutions, we can quickly and easily to pull up a financial report,” Blair says. “We can sort by client, vendor or any number of criteria to zero in on the specific data we want to see. Also, the reports allow a high degree of customization in terms of how we want to format the data for review.”
Precise job costing is essential for turning a profit in today’s highly competitive manufacturing markets. According to Blair, Global Shop Solutions’ ability to track costs in real time plays a key role in maintaining Tiger Tool’s competitive standing.
“In today’s cost-conscious environment, you have to be able to see your costs and know what’s driving them,” Blair adds.
With Global Shop Solutions, we can monitor inventory levels, labor costs, and everything that contributes to the eventual cost of a part. And we can do it all in real time, giving us a powerful competitive tool.
– James Blair, Controller, Tiger Tool International
Present and Future Growth
Since 2008 & ERP implementation, Tiger Tool’s sales have grown a remarkable 345%. According to Blair, this incredible growth is attributed to having a solid management team, skilled workers, and Global Shop Solutions.
What makes Tiger Tool and Global Shop Solutions a perfect fit for each is that they both have the ability to grow. Global Shop Solutions software is always updating and allows for companies like Tiger Tool to better manage inventory and practice precise job costing.
If you’d like to read the full case study, you can download it here.