Inventory Optimization
Inventory tends to oscillate between being a curse and a savior. Inventory optimization aims to find the optimum between high availability of items and tied capital. Purchasers are often required to process more than 500,000 stock items under dynamic market conditions while maintaining the balance between availability and tied capital. Companies can no longer master this challenge without the use of specialized software.
Overview
Finding the optimal balance between high item availability and low stock levels is a question of the proper strategy. You need a specialized software with artificial decision intelligence from a partner, who understands your processes of procurement and production.
ADD*ONE is the intelligent add-on software for inventory optimization. It integrates forecast and disposition as well as planning and strategy into a single process. It ensures, as a platform for knowledge and decision-making, that stock management becomes to real teamwork.
The application ensures an economical procurement strategy in companies, which adapts on market conditions flexibly, efficient disposition processes, supported by intuitive workflows, and low stock levels with maximized item availability.
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Solution ADD*ONE Features
Using ADD*ONE Inventory Optimizer, variable consumption patterns and deviations from the inventory plan can be managed in a target-oriented and dependable way. The software system helps inventory managers find the right balance between low stocks, high product availability and improved liquidity. Top features include:
- Self-adapting forecasts
Detailed determination of the future demand situation with no manual maintenance required, including the identification of trends, outliers, seasonality and sporadic demand
- Calculation of cost-effective order proposals
Dependable decision proposal for each article using an intuitive workflow that identifies the need for immediate action or controlling
- Management by exception
The software eliminates routine tasks, automatically showing planners which actions need to be taken to avoid i.e. stock-out situations. Intuitive graphical displays show planners the most urgent tasks to complete, enabling them to manage by exception.
- Integrated inventory controlling function
All controlling analyses are directly performed in ADD*ONE. Various operative controlling functionalities allow for the comprehensive tracking of all planning figures. Sophisticated simulation functions enable testing and various "if-then" analyses.
- High degree of automation
Simple control and maintenance of a large assortment of items through automated processes, i.e. automatic order approval for items with high forecast quality – this frees up time for inventory planners, allowing them to focus on more important tasks.
- Intuitive operation
Easy-to-understand workflows and uncluttered user interfaces provide users with valuable decision support and create maximal transparency of the company's planning processes.
- Web interface
Fast and mobile access via the browser to any function that is necessary to make focused planning decisions.
Benefits
ADD*ONE provides users with a sustainable optimization of their inventory management process. With ADD*ONE Inventory Optimizer you can expect to:
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Minimize planning effort
Reduce your planning effort by 25 to 50% through the reliable automation of purchasing decisions.
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Reduce inventory
Reduce your inventory by up to 40% while at the same time increasing availability.
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Increase product availability
Obtain a delivery capacity of close to 100% through high-quality planning.
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Reduce procurement costs
Cut procurement and inbound logistics costs with optimized orders and batch sizes
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Increase flexibility
Make efficient management decisions with optimal transparency of complex interrelationships
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Recoup investment
Experience a return-on-investment within months of your purchase
References
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