Inventory management fundamentals
8. Necessary data for inventory management
8. Necessary data for inventory management As mentioned in the automated approach for inventory policies, these are the types of information you might have available: 1. Information typically available in companies Historical demand data: Provides ...
6 & 7. Machine Learning, AI, metrics, and KPIs in inventory optimization
6. Machine Learning & AI in inventory optimization ML models can analyze complex demand patterns as well as supplier performance. Instead of the user manually entering lead times for each supplier, historical lead times across different periods can ...
5. Purchase orders and replenishment
5. Purchase orders and replenishment With clear inventory policies in place, managing replenishment and purchase orders becomes a matter of executing timely and sticking to rules set upfront. The complexity here depends once again on the type of ...
4. Inventory planning parameters, safety stock & basic policies
4. Inventory planning parameters, safety stock & basic policies In this knowledge base, we focus on inventory management/optimization of finished goods. As mentioned in the examples for the 4 different types of companies (ASML, Boeing, Tesla, Coca ...
3. Inventory management classification (ABC XYZ and points to be careful with)
3. Inventory management classification (ABC XYZ and points to be careful with) Before diving into inventory policies, it’s essential to understand inventory classification. Regardless of your company type or inventory variety, it’s highly unlikely ...
1 & 2. Introduction to inventory management & types of inventory
Why inventory matters: Overview of inventory’s strategic role in balancing supply, demand, and financial health. In simple terms, inventory acts as a buffer, allowing companies to meet customer demand while smoothening out fluctuations in supply ...