The Smart Forecaster
Pursuing best practices in demand planning,
forecasting and inventory optimization
The Min/Max inventory policy is one of four available Replenishment methods in SIO. When the inventory level drops to or below the Min, a replenishment order is generated. The reorder quantity is the number of units needed to raise the stock up to the Max. How do you know your Min/Max settings are working well and triggering replenishment orders at the right time and for the right quantities? If you are like most companies, setting Min/Max levels is based on rules of thumb or simple averaging techniques that don’t expose the trade off curve between service level and inventory cost. This makes it impossible to predict which items are likely to have overstocks and shortages in the future. In this Video Blog we elaborate on this and describe how Smart Inventory Optimization can help.
Good forecasting can make a big difference to your company’s performance, whether you are forecasting to support sales, marketing, production, inventory, or finance. This blog is aimed primarily at those fortunate individuals who are about to start this adventure. Welcome to the field!
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.
Smart Software, will lead a 30-minute webinar as part of the WERC Solutions Partner Program. The presentation will focus on how a leading Electric Utility implemented Smart Inventory Planning and Optimization (Smart IP&O) as part of the company’s strategic supply chain optimization (SCO) initiative.