Optimize inventory levels across the supply chain network and improve inventory turns while keeping customer levels on par or even improving them.
Solvice OnStock optimizes the inventory levels from a multi echelon perspective: taking into account the different echelons (central warehouse, regional distribution centers, vendor-managed stock levels) of your supply chain and planning the replenishment orders at the same time.
Without successfully optimizing inventory levels, organizations may end up forecasting too low, resulting in inventory stockouts. When organizations use multi-echelon inventory optimization, they can successfully predict stock levels throughout their supply network, enabling them to meet consumer needs.
Depending on ideal reordering time and specific ordering costs, a MEIO optimization will suggest a reordering strategies that will lie within the bounds of the maximum order size and the order step.
A winning inventory strategy puts the right form of inventory in the right place at the right time. The OnStock algorithms perform a sophisticated balancing act on everything from tactical target planning to multi-echelon inventory optimization. Unlock working capital across your entire supply chain and improve profitability.
Deciding on inventory targets for all products requires insights into the dynamics of keeping stock in a supply chain. There are different reasons why companies keep stock, ranging from commercial campaigns, strategic projects, buffering for uncertainties and protecting bottlenecks. We focus on the stock that is being kept to buffer against the uncertainty in demand and supply. This safety stock typically represents a large part of the capital that is tied up in the day-to-day operations of a company.
OnStock optimizes the inventory levels from a multi echelon perspective: taking into account the different echelons (central warehouse, regional distribution centers, vendor-managed stock levels) of your supply chain and planning the replenishment orders at the same time.
Effective management of a supply chain requires what-if scenario testing to ensure the level of service that can be provided to the customer and to detect roadblocks or pitfalls that might otherwise stay undiscovered. Solvice OnStock provides companies with a digital twin for their supply chain, in which they can test the robustness against different scenarios.
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