Case Studies London International Vintners Exchange (LIV-EX)

Industry: Food & Drink
Solution Delivered: Continuous Stock Cycle Count

About London International Vintners Exchange (LIV-EX)

Liv-ex is the global marketplace for fine wine, with members in 35 countries on six continents. Collectively, its members, include merchants, brokers, retailers, importers, exporters and wine funds, who account for the vast majority of global fine wine turnover. Liv-ex is also the leading authority for fine wine prices and information.

Customer Requirement

Daily cycle counts ensure all fine wine cases align with the system record. The ability to load the current stock on hand file every day. Easy to use scanners and reporting tools for warehouse staff to quickly identify stock variances. Ability for the system to work in all countries where Liv-Ex has operations.

Customer Challenges

High stock values with over £80million under management which translates to over 100,000 cases of wine held in over 3000 bin locations across 3 countries. Over 500 cases need to be counted every day to ensure each case is counted once in the annual 9-month cycle count program.

How Signetor Delivered

The Liv-Ex system created the 3000+ location bin barcodes and provided each case of fine wine with a unique serialised number allowing unique identification. Both data sets were set up in the Signetor system allowing them to be scanned and identified.

Barcode staff badges were provided allowing full traceability of who scanned and counted what product in each location.

Every day an up-to-date stock on hand report is uploaded with details of all the cases of wine, its serial number and their expected location. When uploaded the system creates a new file for the scanners. When the LIV-EX team start in the morning they press one button to refresh the data on their scanners and then they are ready to cycle count anywhere in the UK, France or Belgium.

The reporting system shows any variance between the actual and expected stock for any bin location counted. The staff can quickly investigate and rectify any issues.

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