2023
2022
Stanley Black & Decker to slash SKUs, footprint in $1.5B savings plan
Published Aug. 1, 2022
https://www.supplychaindive.com/news/stanley-black-decker-supply-chain-transformation/628494/
The Company is embarking on a three-year journey to completely reshape its supply chain. By moving closer to customers, becoming more responsive to demand and enabling an agile innovation approach with shorter cycle times, the Company expects to deliver approximately $1.5 billion of cumulative cost savings. To drive these efficiencies, the plan will focus on:
Leveraging strategic sourcing and contract manufacturing ($0.5 billion)
Consolidating facilities with a 30%+ reduction in manufacturing facilities from approximately 120 today ($0.3 billion)
Executing SBD Operating Model to deliver operational excellence through efficiency, simplified organizational design and inventory optimization ($0.4 billion)
Platforming products and implementing initiatives to drive a 40%+ SKU reduction ($0.3 billion).
Information on SKUs reduction also available in:
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