Inventory Modeler

Inventory management involves storing and managing materials of different types, such as raw materials, work-in-progress items, semifinished materials, and finished goods. Managing an inventory is a crucial aspect for any industry, whether it is a manufacturing company, a wholesale retailer, or a warehouse facility. The cost of managing the inventory can take up a significant portion of the company’s revenue. The primary objective of the company is to develop effective tools that can help determine the optimal inventory levels at all operational levels of the supply chain – from raw materials to finished goods – and to meet the final demand.

Inventory Modeler Pricing

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Various industries our product can be used

Retail, E-Commerce, Textile & Garments Industries
Warehouse
Manufacturing Industries

Retail, E-Commerce, Textile & Garments Industries

  • These industries are highly dynamic in nature, the volume of goods in-flow and out-flow are considerably higher.
  • These industries are affected by seasonal demands
  • The variety of stocks is higher and each stocks has its own demand and weightage in terms of storage cost.

Product classification

Classifying products based solely on type and variety may not be adequate, as products can exhibit varying demand patterns in different regions. By leveraging machine learning techniques and historical data, we can classify products more accurately, allowing us to identify items with high dynamic demand. This approach enables us to effectively manage inventory and meet fluctuating demands.

Statistical Analysis

We utilize advanced multivariate statistical techniques such as MANOVA, multiple regression, factor analysis, and cluster analysis to discern patterns and variances within the data. These methods help us to develop sophisticated machine learning models that enable us to accurately predict and forecast demand.

Warehouse

Deterministic Demand

The demand is assumed to be constant and known with certainty. These models work well when demand follows a fixed pattern and remains stable over time.

Probabilistic Demand

The demand is treated as a random variable with a probability distribution in probabilistic models. These models account for uncertainty and variability in demand

Inventory modeler for manufacturing industries

In manufacturing industries demand is straightforward, the companies will start producing the product once the Purchase Order is released from the customer.

Here we focus on inventory cost associated with storage of Raw materials, Semi-Finished products and Finished products. We further classify the total inventory cost into three terms that is Purchasing cost, Setup cost, or ordering cost, and holding cost, or carrying cost. Here the objective is to reduce the total inventory cost.

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