Supply Chain Case Study: Chadwell Supply Increases Sales by 28% and Maintains Leading Fill Rates with Minimal Inventory Investment

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Founded in 2007, Chadwell Supply is a family-owned business recognized as the best MRO service provider in the multi-family industry. The organization has grown to manage nearly 100,000 branch item SKUs across 14 branch locations and offers customers in 20 states the #1 fill rate in the industry.

“We can now test the impact of our decisions on a granular level which no other software can do that we have found. It has enabled us to reduce risk, increase sales and lower our inventory substantially in less than a year while sustaining our industry-leading fill rates. StockIQ is one of my best employees!” - Rob Chadwell, Co-Founder and Director of Operations

Rob Chadwell, Co-Founder and Director of Operations for Chadwell Supply reached out to StockIQ in search of an inventory planning and forecasting solution that could replace their internally developed program and that would work with Dynamics GP.

The company provides the best service levels and fill rates in the multi-family industry and manages a complex supply chain across 14 locations. Sustaining this level of excellence required real-time visibility and robust planning capabilities their current model could not handle.

I actually wrote our old program myself and it was time for me to get out of the software business,” says Rob. “We looked at a lot of different popular solutions and had tried Microsoft’s Advanced Inventory Replenishment, but it just didn’t fit our business or handle fast growth.

When Rob demoed the StockIQ Intelligent Supply Chain Planning solution, he was really impressed. “The product is significantly superior to any other solution on the market and their team spoke our language.

StockIQ spent many hours working closely with Chadwell Supply leadership and training their team for a smooth transition to their new solution. They implemented the solution in the Microsoft Azure Cloud, configured it to their planning requirements, migrated nearly 100,000 item SKUs, and built a seamless integration to Dynamics GP.

28% Increase in Sales While Lowering Inventory

Rob reports StockIQ has facilitated a large increase in sales while saving a substantial amount of money on inventory. Leadership can now see what their service level targets are compared to their actual service levels. “What StockIQ does is fantastic. One thing that has been helpful is tracking lost sales which can be a bit of a game. The way this system does it that others don’t is based on expected demand vs. product so we don’t under forecast and lose money the next year.

99.9% Fill Rate for AAA Item SKUs

Chadwell Supply offers several priority AAA items that must always be in stock. StockIQ helps them calculate and plan for the expected investment required to achieve the high service levels they are looking for. They can continue to provide customers with the best fill rates in the industry at a lower cost than before.

Proactive Planning with Real-time Visibility

StockIQ has revolutionized how Chadwell Supply can see, plan, and forecast inventory. The system identifies potential issues and sends instant alerts to buyers and managers. This enables them to take fast action to fix problems or prevent future issues—without coding or programming. Another unique advantage of StockIQ Rob appreciates is planning for an extended purchase cycle so they are buying based on the calendar and not when an item hits a certain quantity. “Our buying cycle is much more proactive now. We can easily test the impact of an adjustment for seasonality or service level percentage that’s easy to roll back if needed,” Rob says.

The benefits delivered by StockIQ have transformed Chadwell Supply’s inventory planning and outcomes, including:

  • 28% Increase in Sales While Lowering Inventory
  • 99% Fill Rate for AAA Item SKUs
  • Smart, Proactive Planning with Real-time Visibility
  • Empowered Employees
  • Integration, Automation with Dynamics GP
  • Reduced Risk and Errors
  • Experienced Partner, Superior Support

Empowered Employees

Before StockIQ, Rob was hyper-focused on forecasting demand and recommending stocking quantities. Now, he can spend more time on strategic initiatives instead of crunching numbers. StockIQ gives buyers the accurate, real-time information they need to make smart buying decisions on their own.

“Forecast Manager allowed one of our buyers to visually identify a forecasting mistake made by an employee in another location. We avoided buying $60,000 of excess inventory as a result. We never had that ease of visibility before StockIQ.” Additionally, Rob reports an added benefit he thought they would never be able to do. “We’ve been able to create career paths and promote employees to buyers which we couldn’t have done before. We are literally able to change lives because StockIQ is so easy to learn and use.

Integration, Automation with Dynamics GP

StockIQ pulls in data from several sources to give Chadwell Supply a consolidated view of their operations and inventory. They also created a seamless integration that automatically creates purchase orders and transfers in Dynamics GP, saving a lot of time and errors. “ StockIQ made sure we are feeding the system the right data, so we get the insight and results we need,” says Rob.

Reduced Risk and Errors

In addition to reducing human errors from manual entry and calculations, StockIQ enables Chadwell Supply to make profitable decisions based on factual, contextual data. They can adjust on the fly and understand exactly what they need to do to maintain their service levels without increasing risk or inventory.

Trusted Partner with Industry Expertise

Rob has nothing but praise for StockIQ. He is a strong advocate for the Intelligent Supply Chain Planning solution, as well as the team’s dedication to their customers, continuous innovation, and willingness to go above and beyond to deliver an exceptional product.

What is StockIQ?

StockIQ is an intelligent supply chain planning software solution for Demand Management, Replenishment Planning, Supplier Planning, Promotion Planning and Monitoring, Inventory and Capacity Planning. The StockIQ software is tailored to the distribution and manufacturing industries. The inventory reporting solution accelerates the Sales & Operations Planning processes (S&OP) and ensure timely collaboration among sales, marketing, supply chain, finance and partners.

Contact StockIQ if you have any questions or would like to a demo.

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