How to Automate Your Inventory Optimization Process
Most companies have unhealthy inventory. That means they have too much of what they don’t need, not enough of what they do, or both!
With escalating SKU counts and complexity, and uncertain demand, it’s tough to achieve healthy inventory levels–and even harder to maintain over time.
To make it worse, most so-called “inventory optimization” solutions don’t actually calculate the optimal level of stock to meet your business objectives. Or they use simplistic ABC segmentation methods that are no match for today’s world.
ToolsGroup’s inventory optimization process uses demand data and logistic characteristics other systems ignore in order to pinpoint optimal inventory and service levels for each individual SKU/Location.
You can also optimize to a specific business objective for a group of SKUs–such as profit, cost, warehouse capacity, or obsolescence risk.
The best part is, ToolsGroup’s multi-echelon inventory optimization process automates these inventory tradeoff decisions to balance your inventory across locations, bill-of-material levels, and more … to get the right inventory in the right place at the right time.