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The Advanced Inventory Optimization Handbook
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Today’s supply chains move at a ferocious pace fueled by multiple data streams from both internal and external enterprise systems, social networks, syndicated streams, Internet of Things (IoT) and more. Advances in machine learning help transform this data to better predict customer needs, identify trends and deliver a more synchronized supply chain from product concept to customer availability.
This eBook will help leaders understand the benefits of Inventory Optimization (IO) and Multi-echelon Inventory Optimization like:
- Boosted customer service and automated optimized stock in multiple locations
- Visualize where & how much stock to hold using multiple data sources
- Dashboards with event driven notifications to improve usability, user adoption, & efficiency
This Advanced Inventory Optimization Handbook more deeply explains the importance of IO and MEIO strategies to help minimize costs and reduce risk while meeting customer service requirements and provides examples of how to build these capabilities at your company, including a handy checklist if your organization already has an inventory optimization initiative underway.
Today’s supply chains move at a ferocious pace fueled by multiple data streams from both internal and external enterprise systems, social networks, syndicated streams, Internet of Things (IoT) and more.
Advances in machine learning help transform this data to better predict customer needs, identify trends and deliver a more synchronized supply chain from product concept to customer availability. Inventory Optimization (IO) can have a huge financial impact by freeing up working capital while boosting service and minimizing inventory. Harnessing the insights of multiple data streams, Inventory Optimization determines where and how much stock to hold to meet a designated service level while complying with specific inventory policies. Through sophisticated machine learning algorithms, IO makes stocking recommendations to satisfy these needs.
Multi-echelon Inventory Optimization (MEIO) goes a step further to optimize stock locations and amounts across all sites and nodes in a supply chain network. The right MEIO approach automates the stocking and replenishment process as well as enables rich scenario analysis to automatically analyze tradeoffs between costs and service levels. It also uses machine learning to identify stocking patterns for seasonal products or new product introductions. Through robust visualizations, MEIO dashboards and event driven notifications help improve usability, user adoption and user efficiency.
This Advanced Inventory Optimization Handbook more deeply explains the importance of IO and MEIO strategies to help minimize costs and reduce risk while meeting customer service requirements, and provides examples of how to build these capabilities at your company, including a handy checklist if your organization already has an inventory optimization initiative underway.
MORE ABOUT THIS EBOOK:
- WHO SHOULD READ THIS EBOOK?
Business leaders in supply chain, operations, and inventory and supply chain managers. Learn how to optimize your inventory, minimize costs, and reduce risk with this comprehensive guide to inventory optimization.
- WHAT CONCEPTS ARE COVERED IN THIS EBOOK?
This eBook covers practical guidance on the benefits of multi-echelon inventory optimization that enables leaders to optimize stock locations and quantities across a supply chain network for maximum efficiency.
- WHY THIS EBOOK IS A MUST READ FOR SUPPLY CHAIN ORGANIZATIONS
This eBook covers an intricate overview of IO and MEIO and explains why the two concepts are essential to minimize costs and risks and meet customer service requirements. By harnessing the insights of multiple data streams and using sophisticated machine learning algorithms, IO and MEIO can enable leaders to make faster and more confident decisions about where and how much stock to hold.