Alan shows you how identify new, data driven, re-order points for your stock items that take into account historical usage, lead times and service levels. These new re-order points can help you to reduce the risk of stock-outs and ensure that you are not keeping excess inventory when it is unnecessary.
Alan now looks more closely at the quality of information you hold on your inventory. What data is missing? Which transactions were anomalous? And which stock items exhibit the most variability and seasonality?
Alan takes you through the Smart Inventory Management interactive dashboard, showcasing an overview of your inventory and putting the spotlight on your potentially obsolete stock.
If you have ever found that your company has engaged with Analytics initiatives that have not generated the level of success that was envisaged despite appearing to provide good insights, or that your attempts to start Analytics in your business is falling on deaf ears, then, quite likely, your Analytics initiatives are not properly aligned with your company’s Strategy.
In June 2018, I was invited to speak at the UK Manufacturing and Supply Chain Conference in Coventry on the Subject of MRO Inventory Management. Based on the standing room only, it was obvious from the start that this is a growing pain for organisations, large and small.
I’ve often seen analytics described primarily by way of the technical complexity of the techniques. In this article, I present a better approach than trying to do something technically complicated just because it may (or may not) yield more business value.
Being able to effectively measure a RoI on the back of an Advanced Analytics project is paramount. In other words, any Advanced Analytics project that is not business outcome driven is worthless.
Throughout industries analytics has taken on an almost ubiquitous nature of late. There are increasing demands for data scientists, open source developers and an in-house capability for providing actionable insights through data. But, can an analytics capability be provided by a data scientist or developers alone?
Analytics is being discussed more and more often in top table conversations, but why do so many organisations still struggle to get to grips with it?
A 3 step process to Understand, Assess and Audit your Data for Advanced Analytics.