CV parts distributor, TruckStop Group, has adopted the electronic trading initiative, PACT, streamlining communication with suppliers and significantly reducing costs.
PACT supports the distributor’s effective supply of component parts for commercial vehicle, bus, coach, plant and truck applications from its three branches in Redditch, Worcester and its newly opened base in Birmingham.
PACT automates procedures from a distributor’s business management system to a PACT supplier in an efficient manner, dealing with processes such as stock enquiries and ordering and the exchange of order acknowledgements, dispatch notes and invoices, which are proven to improve internal processes and also help eradicate the supply of incorrect parts.
Matt Stiley, TruckStop Group Managing Director, said: “It’s a steady process but we are beginning to experience the benefits of electronic trading through PACT. Looking ahead, we are making the trading process a lot more efficient and accurate, while reducing internal operational costs.”
PACT currently works with 80 leading passenger car and CV parts suppliers. These suppliers, including Bosch, Juratek, Mann + Hummel, Schaeffler and Tenneco, have access to more than 2000 ‘buyer’ locations throughout the UK.
Peter Hollowood of PACT said: “It’s an exciting time as we are seeing a significant growth in the number of CV parts distributors becoming PACT enabled and with an increase of suppliers also coming on board, distributors can greatly benefit from the electronic connection.
“Electronic trading is revolutionising the entire industry; buyers now receive instant visibility of a connected supplier’s wide range of parts, allowing them to purchase products while freeing up the workforce to focus on other areas of the business.”
PACT provides a free audit to suppliers to determine their electronic trading usage, ranging from the number of transactions and volume of data exchanged, in order to arrive at a cost for implementation within the network.