Optimal medium- to long-term inventory control policies need to be determined considering the unpredictability and complexity of customer demand. Successful inventory management reduces excess inventory to the lowest level possible while avoiding stock-outs in alignment with service levels. At the same time, turning your inventory availabilities into new orders increases your revenue.
In customer-centric approach, optimal inventory decisions are aligned with better service to customers.
Always have the right amount of stock in the right places at the right times to satisfy demand and minimize costs.
Have full control over your inventory positions and allocation through increased visibility. Make optimized inventory plans and revise your plans in the face of changing market conditions and fluctuations in customer demand.
An electronics company with a wide range of product types and variable due-dates embraced overstock policy by necessity. This was causing high stock holding cost.
The company reduced its stock holding cost 15% with ICRON CCP by allocating inventory in accordance with order priorities, adjusting inventory usage and changing allocations instantly in response to every order alteration.
A company in FMCG sector ramped up its production 1200% over the last 10 years and for this reason was dealing with a huge inventory cost.
The company reduced its stock holding cost 12% by changing allocations according to their prioritization with ICRON CCP. The company got 40% closer to their optimal stock levels by reducing excess stocks.