In the face of global supply chain disruptions, labor shortages, and geo-political challenges, predictive supply chain planning models need to change on a dime. The time to learn, evaluate, and adapt must be compressed. For companies to have successful digital supply chain strategies, they need the capability, the processes, and technology to make those rapid assessments and adjust supply chain planning, production schedules, and overall vision.
Driving data-based decisions across the business significantly improves our ability to optimize our customers’ supply chains. For FM parts and the MRO supply chain, there hasn’t been much innovation over the last two decades, and thus organizations have very little visibility into the supply chain and limited ability to forecast demand. It’s the nature of the materials, because most organizations run a reactive, break-fix strategy.
It makes predicting consumption patterns difficult:
Forecasting for MRO and FM parts requires more than simple min/max ordering methods that don’t account for the dynamic nature of your business. SDI’s process includes diligent consideration of variables and thorough data analysis to develop a carefully crafted strategy specific to your business needs.
The Inventory Management module is a core component of SDI’s proprietary ZEUS Digital Supply Chain Management platform. SDI’s Inventory Management solution combines technology, intellectual capital, and supply chain expertise to drive to optimum customer inventory levels while minimizing, even eliminating, future occurrence of obsolete inventories and stock-outs. Read more about reducing slow-moving and obsolete inventory.
The ZEUS Inventory Management System consists of three primary components that improve inventory levels and lower expenses. The system also factors in your economic and service level drivers to develop a replenishment plan that indicates what items to order, in what quantity, and in a manner, which will reduce total inventory, decrease transportation and receiving costs and increase service levels.
Our statistical modeling system draws from 35 different algorithms to apply the best model for your business, incorporating moving averages, seasonal trends, and low volumes to predict demand and consumption. This unique approach employs aspects of logic, experience, and technology to achieve maximum results.
The ZEUS FM and MRO Inventory Management System from SDI alerts managers to opportunities that reduce excess build-up. This is done by quickly identifying parts with significantly reduced usage, eliminating the growth of obsolete inventory. Over-utilized parts are also identified, and our experts generate a root cause analysis that determines if a machine needs maintenance or an employee needs additional training. Read more about how to fix common inventory management problems.
Many companies look at the inventory management process from just one point of view. But an effective inventory management solution is holistic in its approach; utilizing top-of-the-line inventory management technology and looking at all possible areas to help cut costs and clean up processes.
While the demand signals for FM and MRO may fluctuate, SDI’s digital technology and supply chain services can help you understand your inventory, giving you the tools to take action and change behaviors to drive different procurement activities to avoid supply chain disruption. Contact us today to implement SDI’s predictive inventory management in your supply chain and reduce your operating expenses.