Inventory Planning
The module offers a fully functional Inventory Optimization module, which helps in maintaining the right balance between excess inventory and stockouts, ensuring optimal stock levels
Stockouts and Overstocking, Excess Carrying and Ordering costs, Unable to track inventory in real time, Inventory Obsolesce
Provides optimized inventory levels, real-time visibility, improved order fulfillment, reduction in operating costs, better inventory management, better service levels, and data-driven decision making providing a competitive advantage
Determining the quantity of inventory on hand in relation to the average daily usage rate to forecast how long current inventory will last.
Novel methods to identify and manage shortages or excesses in inventory levels efficiently with the help of important Inventory KPIs
Using advanced approaches to assess the age of inventory items and their impact on operational efficiency and costs, considering factors like expiry of inventory and so on.
Evaluating the optimal level of extra stock held to mitigate the risk of stockouts due to variability in demand or supply lead times.
Implementing creative strategies to adjust inventory levels across warehouses or plants to optimize overall performance.
Scrutinizing diverse inventory types to inform decision-making based on comprehensive parameters. For instance, analysing pipeline inventory assists in understanding goods in transit across supply chain stages, refining decision processes.
Identifying novel avenues for reducing excess inventory, minimizing waste, and improving overall inventory management.
Leveraging sophisticated machine learning algorithms to forecast the time required for the delivery of goods or completion of processes with high accuracy.
Evaluating potential risks associated with inventory management, such as stockouts, overstocking, obsolescence, and supply chain disruptions, to mitigate adverse impacts and optimize inventory performance.