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Elevance Renewable Sciences, Inc produces, high-performing specialty chemicals derived from plant oils using a Nobel Prize-winning metathesis catalyst technology. Elevance is the first and only company to have commercialized natural oil metathesis technology at scale.
CHALLENGES
- Current legacy system was limited in its capabilities
- Lack of visibility to the company financials
- Accounts payable, accounts receivable and purchasing done via e-mail and spreadsheets
- Rapid growth putting strain on existing business processes effecting finance and supply chain operations
- No visibility to control business flows across the organization
- Unable to effectively run MRP
- Lack of trust in data leading to delayed decisions and extensive manual work
- Heavy reliance on spreadsheets effecting end-to-end supply chain visibility.
- Relatively small IT team and limited business resource time available to implement the system
SOLUTIONS
- Implementation of SAP ECC utilizing an enterprise template aligned with Elevance’s finance and business practices and SAP best practices.
- Functional implementation and education of Finance (FI), Controlling (CO), Sales & Distribution (SD), and Materials Management (MM) modules.
- Conducted 48 realization sprints and 6 validation sprints implementing all modules within 5 months.
- Provided go-live profitability analysis down to Business Unit (BU).
- Increased visibility into financial and consolidated reporting within Europe, North America and Asia operations.
- Underwent end-to-end supply chain change management and transformation.
- Provided Hyper-Care monitoring system transactions, overall system performance, incident reporting, root cause analysis and resolution.
BENEFITS
- Functional implementation of Finance & Controlling (GL, AP, AR, Cash Management, Cost Center Accounting, Profitability Analysis,
- Banking, Assets & Consolidations), Materials Management (Purchasing, Inventory Management), Sales & Distribution (Sales, Shipping, & Credit Management).
- Optimized processes and measures to improve master data effectiveness, lead times, supply chain planning (demand and supply), inventory performance, service levels and operational costs.
- Increased finance and supply chain visibility
- Reduced reliance of spreadsheets and manual processes
- Educated and empowered users and management team
- Immediate value from investment
- Project was delivered one month ahead of schedule
