Powering your SKU’s with Data
Automated Statistical Analysis
Drives Inventory Management
Automated statistical analysis drives inventory management
By Thomas R. Willemain, Ph.D.
Inventory managers struggle with the conflicting priorities of customer satisfaction vs. cost control. Learn how to harness customer demand data to craft optimal inventory policies:
- Measure current inventory policy performance – including service levels, fill rates, inventory turns, and ordering costs.
- Identify improvement goals: Assess tradeoffs between inventory investment and the risk of running out. Where are you over- and under-stocked, and how can you do better?
- Find your optimal balance point, setting reorder points and order quantities that will achieve the results you require.
- Then make it so.
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Pursuing best practices in demand planning, forecasting and inventory optimization
You know the situation: You work out the best way to manage each inventory item by computing the proper reorder points and replenishment targets, then average demand increases or decreases, or demand volatility changes, or suppliers’ lead times change, or your own costs change.
Smart Software’s Channel Sales Director and Enterprise Solution Engineer, to present three sessions at this year’s Microsoft Dynamics Community Summit North America event in Orlando, FL.
Traditionally, software has served as a delivery vehicle for equations. This is fine, as far as it goes. But we at Smart Software think you would do better by trading in your equations for scenarios. Learn why Scenario-based planning helps planners better manage risk and create better outcomes.