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17 results
Optimising Inventory Management at Hydro TasmaniaMay 19, 2023 — Hydro Tasmania knew there was a problem but was unsure where to start. What we faced was a confluence of out-of-date process documentation, lack of awareness around inventory management and underutilization of SAP to do the heavy lifting. This has been an eye-opening experience to say the least. Come hear our story of both how we set about to Manage Master Data, built and implement business process that are in some cases almost opposite to existing processes and the Training and culture piece that went along with this.
1 minute read
Demand Driven Planning – Dynamic Adjustment – Step 3Apr 17, 2023 — Buffers need to be re-calculated dynamically if material, market or company-related parameters change. This can be done with the consulting solution safety stock and buffer simulation. Buffers must be recalculated if the average daily usage changes and changed daily, weekly, or monthly depending on the analysis period. If the average daily usage is calculated based on the last three months, the key figure should be checked daily or weekly. If the base is more than six months, it is sufficient to recalculate the key figure monthly. With the SAP add-on safety stock and buffer simulation (TCODE: /SAPLOM/SSS), demand influencing factors like the average daily usage can be changed This article focuses on the third step identified by the Demand Driven Institute, called Dynamic Adjustments.
3 minute read
Maximizing Efficiency and Cost-Effectiveness Through Inventory OptimizationMar 20, 2023 — The COVID-19 pandemic served as one of the significant disruptors to global supply chains, highlighting the vulnerabilities of traditional inventory management practices that made maintaining optimal inventory levels challenging for business leaders. While holding excessive inventory can be expensive and tie up valuable resources such as warehouse space and capital, having too little inventory leads to stock-outs and lost sales, damaging customer relationships and resulting in revenue loss. This article discusses how inventory optimization offers several advantages for businesses. The benefits include increased transparency throughout the entire business (from sales and marketing to raw material suppliers and global partners), real-time collaboration, accurate demand forecasting and predictive analytics, which results in insightful optimization outcomes. Inventory managers can determine which products are the most profitable and which locations and product combinations are most effective by analyzing complex and diverse data sets. Businesses can quickly adapt and optimize operations on a global scale for growth, unexpected events, or unforeseen changes.
3 minute read
Supply Chain Planning Trends and SAP Integrated Business PlanningMar 17, 2023 — Effective planning is critical for the success of supply chain management. Businesses can improve customer satisfaction, reduce costs, and gain a competitive advantage in the marketplace by shaping demand, optimizing inventory levels, supply, production schedules, logistics operations, and risk management strategies. Planning increases supply chain resiliency as allows organizations to manage disruptions. Disruptions in the supply chains have the potential to recur more often than ever. Macroeconomic conditions are changing, and each geography faces its unique challenges. A well-defined planning processes and connected, integrated, and cognitive planning tools to address these disruptions becomes crucial for organizations. This article discusses the growing importance of planning in supply chain management, latest trends in supply chain planning functions, and SAP's Integrated Business Planning (IBP) that is a comprehensive and ultramodern planning solution that helps organizations to optimize their supply chain operations, reduce costs, and improve customer satisfaction.
3 minute read
Leveraging Association-Rule Mining in Logistics PlanningJul 15, 2022 — Inventory optimization remains a key focus area for SAPinsiders, as highlighted in our most recent research report, Inventory Optimization and Management. When organizations undertake an inventory optimization initiative, they typically leverage conventional multi-echelon inventory optimization tools that leverages inventory placement in conjunction with integer programming and statistical methods to determine how much inventory to hold and where. A network model helps determine which products need to be placed in an stocking location, based on the customer demand historical data for the region. However, algorithms like association-rule mining can further help fine tune these analytical methods in the logistics world.
2 minute read
AIoT for Inventory Management and PlanningJul 15, 2022 — There is no doubt that the AI-enabled Internet of Things (IoT) has the capability to transform the way supply chains run significantly. This is why we will cover this aspect, among others, in our November research report, Inventory Planning and Optimization State of The Market. While we predominantly think of the usage of AIoT in digital twins in a supply chain context, AIoT can potentially significantly impact inventory planning processes within supply chains. This article briefly touches upon three areas where AIoT adds value to the inventory management and planning process.
3 minute read
Excess Inventory Management with AIJun 23, 2022 — Inventory planning and management have taken a whole new form in the COVID era. Optimal inventory planning and management were never easy, but the challenges have now increased manyfold. As organizations changed their inventory strategies, many of them moving from just-in-time to just-on-case, the associated planning, and management challenges also need to be addressed. Excess inventory is a key challenge in many industries, as evident from the recent challenges some top retailers have faced. Readers of this article will get answers to questions like:
• Why AI enabled tools are needed to plan excess inventory management?
• How does an AI-enabled tool identify and plan excess inventory strategy?
• What are some non-technology aspects that need to be considered to act on recommendations?
4 minute read