LKQ Europe Consolidating Spare Parts Inventory Globally
LKQ Europe consolidating spare parts inventory across 20 countries
LKQ Europe is a leading global provider of specialty and alternative parts for cars, commercial vans, and industrial vehicles. At three times the size of its closest competitors, LKQ is the most influential spare parts provider in Europe. The company is made up of a number of strategically acquired regional brands that serve specific geographic markets.
Challenges
Managing the inventory of 40 million unique parts across 1,400 warehouses in multiple countries makes LKQ’s planning needs incredibly complex, especially with disparate processes and tools throughout the business, due to growth through mergers and acquisitions. The company needed a common inventory system to unify global planning, optimize productivity, share best practices, and create a consistent customer experience.
Solution
LKQ selected Syncron Inventory as its spare parts system across all brands and geographies. This empowered LKQ to create supply chain synergies covering a wide range of processes, including point-of-sale demand aggregation, sales forecasting, and virtual inventory planning and replenishment. The consolidated view helps LKQ make the best decisions when organizing parts, people, processes, and suppliers, to achieve the best outcomes for its customers and the business.
Business impact
With Syncron Inventory, LKQ found the scalability it needed to raise its own bar on best-in-class fill rates, availability, and cost. LKQ now has the solution and expertise needed to improve productivity, gain insight and visibility into its supply chain, and ultimately provide customers with the best possible experience.
- Smarter global planning
- Increased forecasting accuracy
- Enhanced customer experience
We want to streamline processes and expand the use of technology and digitization. Our goal is to create cross-functional processes that optimize stock. We focus on quality, which makes Syncron an even better fit.