The saving of the purchase price of a CoroTAS tool management system within two months of its installation at SPP Pumps' manufacturing centre in Gloucestershire has produced a near immediate payback on investment.
But as production engineer for the rotary pump manufacturer, Neil Popejoy, explained: "Buying in the technology was just part of the story; the real benefits came through the company's commitment to apply the system's capabilities to best effect.
"The initial savings were certainly impressive, but it was the tip of the iceberg. Over the past year, we have saved the cost of the investment many times over - and we're not finished yet. We believe a 10 per cent overall saving in tool expenditure is achievable in the longer term, which on a [pounds]1.2 million inventory, represents an extremely worthwhile cost reduction."
Attention was focused on the rotary pump manufacturer's Tool Stores when a steady increase in tool expenditure failed to …