Gain back inventory space and reduce material loss through intelligent inventory management
In modern factories, efficient inventory management poses a significant challenge. With supply chains becoming more intricate and production processes more demanding, maintaining optimal inventory levels is crucial. Poor inventory management can lead to …
Space & Sorting Issues
Unused inventory takes space and is often takes time to retrieve and sort
Material loss issues
Resources break due to long term shelving
How intelligent inventory management can help
By integrating data sources (ERP, logistics, sensors, etc), an intelligent inventory management solution goes the extra mile and allows to :
Adjust production to minimize storage time and stored quantities
The pace of production can be adjusted in operations planning in order to increase production flow and minimize inventory pile ups.
Standardize products
to increase reusability
The less customized intermediate products are, the easier they are to reuse for finished products. It often becomes a tradeoff between the material loss and storage costs. An inventory optimization solution allows good decision according to actual material vs storage costs.
In summary, the optimization of inventory management leads to lower production costs and higher overall efficiency for manufacturers. These results should be measurable through clear and succinct KPIs :
Quantities of products in inventory
Time spent in inventory
Material loss due to storage