How can an industrial company both improve purchasing operations and optimize inventory turnover without a major system overhaul?
Hannu Ranta-Lassila, Deputy Managing Director of the Finncont Group, explains how collaborating with Wisestein has brought efficiency and clarity to their purchase batch size optimization, with a people-centered approach.
Finncont Group manufactures products and systems supporting the circular economy. Finncont is an expert in the circular economy with a mission to enable a better future for the next generations. The company provides sustainable solutions for safe recycling, transporting, and storage, ensuring the continuous circulation of materials.
When the need for improving the management of material flows and optimizing inventory turnover increased, it was obvious that the solution should support the existing ERP system instead of replacing it.
“We wanted an explicit, complementary solution for our existing ERP system that would bring tangible benefits for managing purchases and inventory. The main focus was to optimize the amount of working capital tied up in our inventories”, Ranta-Lassila summarizes.
The right partner found at a trade fair — people made the difference
The right solution for Finncont Group was found at the 2023 Subcontracting Fair Finland. Wisestein SCM software and the expertise behind it immediately sparked interest. One particular meeting left a lasting impression on Ranta-Lassila:
“We met Ray Blomqvist, the CEO of Wisestein, whose extensive expertise in this field convinced us. Based even on a brief conversation, we shared many of the same views regarding procurement, and so the collaboration began.”
Step-by-step system implementation in close co-operation
Integrating the new system with the existing ERP system required some time and cooperation between three parties. However, the completion of the process was a success.
Ranta-Lassila praises in particular the structured hands-on training program that supported the successful system implementation. Led by the CEO of Wisestein, the goal of the training program was to ensure efficient use of the new interface and also to introduce new insights into procurement altogether.
“The training program accelerated the system implementation process. Employees had a chance to ask questions while testing the new software. In addition, I valued the mindset of Ray Blomqvist regarding the training methods encouraging us to learn in practice rather than theory.“
Results so far: Metrics aligned, workload reduced
Although the system implementation has been recent, the results are already visible. According to Ranta-Lassila:
- Inventory turnover has improved.
- The real-time interface has streamlined procurement.
- Mass update has simplified day-to-day operations.
Furthermore, Wisestein is praised for its rapid response time and customer-oriented approach. The evolving needs of Finncont Group have always been addressed promptly, and the collaboration has remained people-centered throughout.
“Wisestein is a professional, agile software company that provides not just an interface but also extensive expertise to enhance the entire outlook on the procurement process,” Ranta-Lassila sums up.
Summary: Effective change requires cooperation
The experience of Finncont Group demonstrates that with the right partner, developing the supply chain management does not require a major ERP overhaul. Wisestein has business insight, pays attention to details, and excels in adapting to the evolving needs of the customer.