Software logistics specialist Slimstock has received an industry accolade for its crisis management work after a cargo ship carrying vital automotive parts sank to the bottom of the Indian Ocean.
The Coventry-based firm helped IM Parts, the official distributor of Subaru, Isuzu and Daihatsu products within the UK, carry on its operations in the face of a potentially disastrous situation following the ship’s sinking in 2013.
As a result the firm has won the planning and forecasting software category at this year’s Logistics Business IT Awards.
The incident took place shortly after Slimstock started working with Coleshill-based IM Parts, part of IM Group, and the sinking meant a large shipment of stock sank to the sea bed.
Slimstock swiftly helped IM Parts establish a recovery plan and in just a matter of hours all the stock issues which resulted from the setback were resolved, saving IM Parts a fortune in emergency air freight costs.
Mike Willetts, finance director at IM Parts, said: “As the cargo ship sank with our stock on board, we were left with a huge number of inventory issues.
“Given that many items within our inventory are subject to extensive lead times, it was of the upmost of importance that we resolved the issue as quickly as possible.
“Thankfully, with the support of Slimstock, we were able to respond immediately and take the necessary actions to ensure we could satisfy the needs of our customers.”
Richard Evans, director of Slimstock UK, said “While the incident left IM Parts with an extremely challenging situation to manage, I had no doubt that with our expert industry knowledge, we would be able to resolve the issue swiftly and get their operations back on track.
“Several months on, business is booming at IM Parts and we are proud to be part of their success.”
The Logistics Business IT Awards event brings together supply chain professionals from a range of industries to celebrate the biggest supply chain achievements of the last 12 months.
During the awards, Slimstock were commended for their focus on service levels and customer satisfaction as well as their ability to build strong relationships with customers.