Modine and LeanDNA Project Named Finalist for a 2024 Manufacturing Leadership Award

Rhea-AI Summary

Modine (MOD) and LeanDNA recognized as finalists at the 2024 Manufacturing Leadership Awards for their innovative project. Modine successfully implemented LeanDNA to optimize inventory, improve on-time delivery, and enhance supply chain resiliency, resulting in significant improvements across various aspects of their supply chain.

Positive

• Modine and LeanDNA selected as finalists for the 2024 Manufacturing Leadership Awards.
• Implementation of LeanDNA led to a 50% reduction in supplier past dues and material health.
• Modine saw a significant inventory reduction within the first 6 months of implementing LeanDNA.
• Partnership with LeanDNA enabled Modine to apply 80/20 business principles to their supply chain.
• LeanDNA integration with Modine's ERP system improved supply chain decision-making at multiple levels.
• LeanDNA empowered front-line employees with superior information and reduced their workload.

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• None.

LeanDNA was named a Partner in Collaborative Innovation at the 2023 Manufacturing Leadership Awards.

AUSTIN, Texas, April 9, 2024 /PRNewswire/ -- The National Association of Manufacturers Manufacturing Leadership Council has selected a project by Modine (NYSE: MOD), a diversified leader in thermal management technology and solutions, and LeanDNA, a leading intelligent supply chain execution platform, as a finalist in the Digital Supply Chain category for a 2024 Manufacturing Leadership Award.

The companies will be recognized for their submission, "Modine Manufacturing Company Implements LeanDNA to Optimize Inventory, Improve On-Time Delivery, and Increase Supply Chain Resiliency," at the Manufacturing Leadership Awards Gala in Marco Island, Florida, on June 5, 2024.

In the award submission, Modine discussed challenges across its supply chain network stemming from inefficiencies. The organization implemented LeanDNA as its comprehensive intelligent supply chain execution solution. They cited predictive analytics and prescriptive execution recommendations as vital to digitally transforming its supply chain.

"This project has given the team at Modine more time to focus on intelligently executing and taking effective actions. You have to invest in smart learning and decision-making platforms like LeanDNA that can help you be more agile," said Vatsal Gandhi, Executive Director of Global Supply Chain at Modine.

"Modine was able to quickly drive value from LeanDNA by inviting a broad range of stakeholders, including material managers, buyers, planners, and procurement, to use the platform," said Richard Lebovitz, CEO of LeanDNA. "They established a structured framework and processes that enabled LeanDNA to become a cross-functional hub to address material health and improve overall collaboration expeditiously," said Lebovitz.

"LeanDNA seamlessly integrates with our ERP system and facilitates enhanced supply chain decision-making at multiple levels of the organization. It not only provides summary dashboards and intelligence to leadership, but it also empowers front-line employees with superior information and diminishes their workload," said James Dawsey, Senior SIOP & Demand Management Leader at Modine.

The project has resulted in significant, tangible improvements across various aspects of Modine's supply chain, most notably contributing to enhanced efficiency, reduced shortages, and improved overall operational resilience. Results have included:

• Modine factories that have implemented the LeanDNA platform have seen a 50% reduction in supplier past dues and material health.
• Modine plants with the LeanDNA platform realized a significant inventory reduction within the first 6 months of implementation.

Modine's partnership with LeanDNA allowed them to apply 80/20 business principles to their supply chain. Instead of spending 80% of their time building reports and analyzing data, and 20% of their time executing on actions, the team was able to flip these percentages.

About LeanDNA
LeanDNA is a leading intelligent supply chain execution platform that enables supply chain teams with a single source of truth for inventory management and production readiness. This cloud-based platform synchronizes execution across the supply chain, empowering manufacturers to prioritize and collaborate to resolve critical material shortages and excesses. With LeanDNA, manufacturers improve on-time delivery and working capital levels by gaining visibility into current and incoming materials, actions based on inventory criticality, real-time collaboration with suppliers, and the ability to track progress toward inventory optimization goals. Learn more at LeanDNA.com.

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SOURCE LeanDNA Inc

FAQ

What award did Modine and LeanDNA receive in 2024?

Modine and LeanDNA were named finalists at the 2024 Manufacturing Leadership Awards.

How did LeanDNA help Modine improve their supply chain?

LeanDNA enabled Modine to optimize inventory, improve on-time delivery, and increase supply chain resiliency.

What were the results of implementing LeanDNA at Modine?

Results included a 50% reduction in supplier past dues, significant inventory reduction, and application of 80/20 business principles.

Who is the Executive Director of Global Supply Chain at Modine?

Vatsal Gandhi is the Executive Director of Global Supply Chain at Modine.

How did LeanDNA empower front-line employees at Modine?

LeanDNA provided front-line employees with superior information and diminished their workload.