Simplified Inventory Planning

Excess inventory is the root of all evil for operations, SIMTech's Inventory Planning system is developed to help companies achieve right-sized inventory in order to minimise inventory risks and maximise inventory performance.

Some key features of Simplified Inventory Planning are:
• Knowing what happened in the past by demonstrating current inventory performance using performance dashboards and risk alerts.
• Telling what will happen in the future by automatically setting proper inventory performance targets. 
• Showing how to achieve targets through inventory policy development and optimization, and performance evaluation.

Simplified Inventory Planning is basically a data analytics tool that converts the raw data, which is difficult to interpret, into meaningful messages like excess inventory, inventory turnover ratio, policy, alerts, etc., which will increase the performance visibility and facilitate the decision making in order to reach the right-sized inventory.

Simplified Inventory Planning consists of a dashboard that shows the overall inventory performances measured in terms of fill rate, turnover ratio, and cost; and highlights performance alerts if there are any. By looking at the dashboard, end users will have a quick and overall picture of inventory performance.

The Creation and reviewing of inventory policies are crucial to inventory planning. Simplified Inventory Planning can recommend a new inventory policy based on the input of raw data, and further predict the corresponding performance if the policy is adopted.

Performance alerts provide a quick and direct way of making end users aware of  inventory risks by providing detailed problem descriptions. Timely alerts can, for example, minimise the risks of factory downtime due to material shortage.