Automating Inventory Levels

Unlocking staff bandwidth for making higher value decisions.

Understanding the size of potential benefits is key to making an informed decision.

We worked with a UK-wide retailer to help them understand what could be achieved through automating the setting of stock levels, and how this new way of working could be implemented across their business.

Sector

Engineering

Timescale

12 weeks

With products held in stock across circa 200 shopfronts, there was significant opportunity to both reduce the amount of cash tied up in stock where there was excess stock, whilst also increasing stock holding for lines where insufficient stock was being held.

However, if set-up wrong, the impact on the business could be huge. Therefore, identifying a suitable forecasting algorithm that met the specific requirements of the business before making widespread and systematic changes was important.

Trym built a tool to test stock level recommendations based on a number of inputs and calculations. This allowed our client to also carry out an initial trial across a selection of shopfronts to monitor the impact of the calculated inventory levels. This meant that the algorithm could be further improved to capture specific product nuances.

With the inventory levels calculation scoped out, a decision on the best software solution could then be made… In the short term, the Trym model was developed and automated, to support business requirements. In parallel, the specification of the model was used to produce a system specification for the existing ERP.

Related Services

Business intelligence aims to interpret large datasets and present actionable information.

This service will be valuable to you if:

You have lots of data but no actionable insights.

Your spending too much time creating reports.

You’d like a better overall view of your business.

You want to drive decisions using evidence and data.

Demand forecasting is a critical business requirement to support a range of business functions.

This service will be valuable to you if:

You want to free up cash held in excess stock.

You want to improve product availability.

Your business has a seasonal demand.

Your procurement team wants to stop ‘fire fighting’.

Who we are.

We are independent supply chain and warehouse consultants specialising in data analysis, leading strategy, and bringing a fresh perspective to your supply chain challenges.

We aren’t a massive consultancy, and we quite like it that way. Our personal approach means we can guide you through an entire project, leaving you with the knowledge and tools you need to keep taking action.

© Trym Consulting