Forecasting a Bright Future for MRO |
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It’s always been difficult to predict which supplies you’ll need, when you’ll need them, and what quantity you should stock to meet future demand.
For years, inventory and plant managers have tried to forecast MRO inventory needs using judgmental approaches, simplistic models, and most recently, statistical algorithms. Even statistical forecasting had not evolved enough to handle the intricate mix and volumes of data elements that make up most organizations’ MRO supply chains. Until now.
Only at SDI will you find a revolutionary inventory forecasting component to the world of MRO material. It’s at the heart of our Inventory Management Solution, and it’s the most advanced multivariate statistical forecasting technology available anywhere. By analyzing the behavior of a customer’s MRO inventory usage, SDI can match the correct replenishment model for optimum ordering by SKU. Without this match to the correct forecasting model for each segment of your inventory, you end up with a buildup of excess and obsolete inventory.
Using our forecasting capabilities, we’re already helping customers make more informed supply decisions and cut costs. In fact, when applied to our own inventory under management, it reduced shipping costs by nearly $600,000 in one year by eliminating unnecessary shipping expense.
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A Complete Approach to Inventory Management |
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Our new Inventory Management Solution works because we provide much more than mathematics and models. We also provide comprehensive, expert support.
As part of our Inventory Management Solution, our MRO experts collect historical data, build data into the system, then implement standardized processes, increase supply chain visibility, and establish strategic vendor relationships. The result is a perfect blend of technology and expertise that helps you:
- Save money on taxable inventory
- Reduce supply and administrative costs
- Increase productivity with order fill rates >98.5%
- Slash transportation costs by reducing expedited shipping
- Simplify reporting and increase accountability
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