Performance Characteristics
FORECASTING
Dynamic forecasting is the heart of the add*ONE Inventory Optimizer, providing accurate statistical forecasts based on historical sales through modern, self-adapting forecasting algorithms. This means method selection and parameter settings are dynamic, and that they ‘learn’ with each application.
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FORECASTING
Dynamic forecasting is the heart of the add*ONE Inventory Optimizer, providing accurate statistical forecasts based on historical sales through modern, self-adapting forecasting algorithms. This means method selection and parameter settings are dynamic, and that they ‘learn’ with each application.
A comprehensive database of forecasting methods enables even items previously regarded as difficult to forecast to be planned; it also offers different approaches for slow-movers (ideal for spare parts), and can be applied with new or promotional items.
Consolidated demand plans may be transferred into the statistical forecast (through manual input, file import, or via integration of our add*ONE Demand Planner) to provide a complete view of the demand for which an inventory profile is required to satisfy according to set service level targets.
Dynamic safety stocks are automatically calculated on the basis of fluctuations in demand and irregularities in the supply pattern; this enables minimal manual intervention.
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ORDER PLANNING
Efficient planning processes are achieved by allowing the system to automatically plan reliable items, enabling planners to concentrate on the items which need action. The intuitive workflow determines the priority of action required, and the high transparency of information at hand enable planners to quickly review items to make the best decisions. The sequential processing of endless lists of items is no longer required.
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ORDER PLANNING
Efficient planning processes are achieved by allowing the system to automatically plan reliable items, enabling planners to concentrate on the items which need action. The intuitive workflow determines the priority of action required, and the high transparency of information at hand enable planners to quickly review items to make the best decisions. The sequential processing of endless lists of items is no longer required.
Optimised orders for stock replenishment are calculated by using sophisticated dynamic and analytical algorithms to provide a truly minimised total cost. These algorithms consider multiple factors in addition to the demand and safety stock targets in order to determine the optimal replenishment program:
- Economic order quantity batch size calculation
- Delivery frequencies and calendars as well as manufacturing and delivery calendars
- Total costs such as transaction costs; supplier contractual price breaks as well as storage costs and order costs.
- Minimum and maximum ordering/storage constraints
- Shelf life considerations
- Batch sizes
- Lead times/prices of alternative suppliers
Expediting is reduced through increased reliability of inventory plans. However, we recognise that it is always required to some extent, as scheduling agreements and demand plans are never 100% reliable. High transparency of accurate information easily at hand enables planners to quickly simulate possible options in an urgent situation, and implement the best decision.
Optimised purchase delivery is achieved through grouping purchase requisitions into purchase orders which may have additional constraints such as minimum value or volume, or fulfilling international container transport batch requirements.
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MANAGEMENT INFORMATION
Strategic planning of inventory is supported through supply of accurate and relevant information in graphical form with the standard controlling module. This way management decisions are more effective because they are based on well founded information.
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MANAGEMENT INFORMATION
Strategic planning of inventory is supported through supply of accurate and relevant information in graphical form with the standard controlling module. This way management decisions are more effective because they are based on well founded information.
The standard controlling module enables powerful analysis as standard for planning on tactical levels and in support of management information processes:
- Analysis and graphical views of key performance indicators (KPIs) including KPI forecasts
- Portfolio analysis revealing weak points in policy implementation
- Database query and selection for ad-hoc analysis by users
- User defined reporting
- Powerful simulation capabilities
Internet access allows to easily integrate remote users in the process of inventory management without having to install expensive software across multiple sites.
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