Founded in 1914, the Risk Management Association (RMA) is a
not-for-profit, member-driven professional association whose sole
purpose is to advance the use of sound risk principles in the financial
services industry. RMA promotes an enterprise-wide approach to risk
management that focuses on credit risk, market risk, and operational
risk. They have 3,000 institutional members that include banks of all
sizes as well as non-bank financial institutions.
Business Goal: Timely Customer Response, Seamless Inventory Management
As one of the world’s leading providers of reference information for financial professionals, RMA offers a comprehensive range of products and services. Their vast set of publications, articles, studies and other reference materials comprise several hundred active SKUs (stock keeping units) that must be warehoused, managed and distributed the same day that orders are received. In the late 1990s, they needed a fulfillment partner who could warehouse its voluminous product inventory, meet its customer response needs for same day order processing, and provide the technology and systems for electronic inventory management and reporting.
Solution: Technologically Savvy Fulfillment Provider
For over ten years, RMA has partnered with EchoData to meet the fulfillment requirements that are so essential to achieving its overall organizational goals. Through a mix of expert staff, dedicated facilities, and advanced systems and technology, EchoData is able to effectively manage RMA's complex inventory profile and meet its daily shipping requirements. Moreover, EchoData's integrated inventory and order management system - Manage 2000 - provides automated inventory management capabilities, resulting in greater reliability of inventory counts and allocations.
Unique Challenges: Highly Customized Order Fulfillment
In addition to its core line of reference materials, the client also offers comprehensive seminar and training programs on a wide range of topics for financial industry professionals. The execution of the program requires the custom assembly and distribution of course materials to various locations on a timely basis. With proven experience in complex pick, pack and ship fulfillment, the EchoData team manages the complex behind-the-scenes logistics of the seminar program - ensuring that the right product is shipped to the right location, at the right time.
Results: Effective Customer Response, Measurable Cost Savings
Partnering with EchoData has helped RMA achieve its goals for rapid customer response at virtually 100 percent fulfillment accuracy. EchoData's dedicated staff and enabling technology have translated into reduced in-house staff involvement in the customer service area, leading to better resource allocation and lower costs.
