For demonstrating excellence in supply chain management
LEXINGTON, Ky. (March 27, 2015) — Lexmark was chosen as the recipient of the University of Kentucky Gatton College of Business and Economics’ inaugural Commonwealth Supply Chain Innovation Award. The award recognizes individuals and/or organizations that have demonstrated operational excellence in supply chain management as evidenced in a recently completed supply chain improvement project.
Lexmark’s supply chain team, working with logistics partner Kuehne + Nagel, one of the world’s leading third-party logistics companies, completed an “error-proofing” project that impressed the judges with their innovative approach to improving their custom mixed-pallet creation and shipping processes. Results included improved order accuracy to best-in-class levels and a reduction in the number and cost of customer claims by over 70 percent. The project reduced labor costs and delivered a return on investment of 250 percent in the first year.
The award judging panel consists of practitioners, academics and consultants in the supply chain industry, appointed by the advisory board of the Gatton College Supply Chain Forum. The forum brings together approximately 200 corporate leaders, professors and students to share ideas about the latest supply chain issues. This year’s theme was “Digitization of Supply Chain.”
As the award recipient, Lexmark qualifies for future supply chain improvement project support from graduate students enrolled in the Gatton College’s one-year accelerated MBA program.