Inventory Planning & Optimization
The basic survival policy in global market is the ability to adapt the market’s dynamics instantaneously. Under the fierce competition in the market those who can renew their production systems and flexibly change them according to technological enhancements might be promising. Inventory planning and optimization makes an organization capable of delivering the right product to the right place at the right time and price.
In order to manage inventory, the fundamentally characteristics of inventory systems are monitored closely. These characteristics are lead time forecasting, service level analysis, demand forecasting, order frequency, replenishment and so on. For each of these parameters in the inventory planning a careful analysis is conveyed. Generally optimization techniques and algorithms are used to determine the optimal lot sizes, re-order points by taking a system-wise approach into account.
Inventory optimization is intrinsically difficult because of the stochastic nature of the supply chain components. In inventory optimization basic target to achieve is finding the optimal level of inventory investments for a given customer service level for each item of the inventory. However determining the exact demand and lead times have never been easy. Therefore the uncertainty associated with these parameters has to be handled systematically.
SOLVOYO perceives supply chain management as comprising of sites in a network that are linked in some way or another. SOLVOYO offers an end-to-end supply chain solution that is from forecasting the demand by carefully analyzing the sales data for a span of history time under different methodologies to appropriately determine the replenishment. Having considered all the sites in the supply chain network SOLVOYO determines the appropriate lot sizes and safety stocks for its customers.