Searching for the WMS solution that fits you best?
Increasing data volumes are a great challenge for many companies. There are often not enough resources to regularly maintain the scheduling parameters and run intelligent analyses. This, however, is the prerequisite for effective planning and scheduling. The Inventory Health Check app – as part of our Consulting Suite – provides you with the required transparency regarding your current inventory situation. Together, we identify coverage and inventory drivers, uncover areas requiring action and generate suggested optimization measures. Put your logistics capabilities to the test!
Did you know that you can uncover efficiency increase potentials in your inventory in just a few minutes? Inventory ties up capital and generates running costs. The Inventory Health Check, which we developed together with our partner LIS (Logistics Improvement Services), provides you with an overview of the current situation in your warehouse: How much inventory is there? Which items are managed? Are there excess inventory or even shortages and why? How long are your acquisition cycles and what are your main lot sizes? Evaluating all these data offers a first assessment of your possible inventory reduction potential. Together, we define how to use the findings from the status quo analysis for optimizations in the shortest time possible and with only a few adjustments. Uncover existing potentials – become your own logistics consultant!
In future, we will go one step further and add two central aspects to our app family – so you can immediately implement the identified potentials and increase your logistics performance for the long term. Scenario Management and Monitoring are tools which can help you to become your own logistics consultant. For tactical, strategic supply chain consulting.
The data provided in the Inventory Health Check are used for analyzing different situations using the Scenario Management app. The objective is to find the right acquisition strategy that meets your demands in terms of availability and inventory levels. The evaluation primarily focuses on item grouping and ABC/XYZ classification of the items, which are used for selecting the appropriate scheduling parameters. The target coverage corridor defines the limits of the desired buffer of the inventory and is used for determining the lot size. The target service level defines the desired availability and is used for calculating the safety inventory. These scheduling parameters are made available for your ERP system. A continuous review of these key figures ensures efficiency increases in scheduling while significantly improving data quality.
The third app allows you to continuously keep an eye on the most important KPIs and processes of the supply chain. First, relevant KPIs have to be defined to ensure the implementation success of the chosen acquisition strategy. This includes, for example, development of coverage and availability as well as inbound and outbound performance. These key figures have to be configured with respect to the specific situation. You always stay informed as to whether your inventory optimization is on track for meeting the defined targets or if, for example, adaptations are required because the general conditions have changed.
Take the first step towards strategic supply chain consulting. Planning and scheduling play an important role in logistics. The only way to reduce unnecessary costs is by regularly reviewing the status quo and developing optimization potentials. The Inventory Health Check is offered as part of our online optimization platform – the Consulting Suite. You can choose from a variety of apps based on your requirements and benefit from long-term cost savings and a high level of economic efficiency in your logistics.
If you do not have any experience with an Inventory Health Check yet, please inform yourself here. We have compiled the most frequent questions for you.
The Inventory Health Check analyzes the performance of your warehouse, using current inventory, demand and other warehouse data to calculate the optimization potentials. This increases the performance of your logistics by optimizing inventory, increasing turnover and significantly improving flexibility. At the same time, costs are lowered through reduced capital commitment. The Inventory Health Check is a snapshot of the current inventory showing a dynamic development in the defined evaluation period.
An Inventory Health Check identifies improvement potential within your warehouse inventory. An economically viable supply chain can only be achieved through regular updating of the required parameters. As this often involves a high level of time and effort, this task is often neglected. An Inventory Health Check takes on this task for you. You then receive specific suggestions for improving the inventory and availability situation.
The Inventory Health Check app is part of the Consulting Suite, the first online optimization platform for logistics. You receive an individual login for the Consulting Suite and can then access the app.
The advisors at EPG | CONSULTING are always available via email at firstname.lastname@example.org or by phone at (+49) 67 42-87 27 0. You can also use our contact form at https://www.epg.com/en-ae/contact/ to send your questions to us.