INVENTORY OPTIMIZATION
Cash Improvement, Costs Reduction, Service level optimization
Context
Forizons' Inventory Optimization methodology is developed to help your organization to improve the inventory performance.
The activity involved in the methodology:
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Parts performance monitoring
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Parts segmentation and inventory optimization
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Forecast and planning optimization
Forizons’ inventory optimization methodology focuses on achieving the optimal balance between working capital, service levels and costs based on our 20-year experiences and the Forizons’ experts in inventory management, maintenance and MRO optimization.
Our Approach
Spare Parts Performance Monitoring
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KPIs definition and setup
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Spare parts KPIs dashboard
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Service level monitoring
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Decision making support
Spare Parts Segmentation and Inventory Optimization
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Multi-criteria segmentation
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Spare parts inventory screening
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Stock ageing analysis
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First level Inventory reduction
Forecast and Planning Optimization
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Planning systems
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Stocking policy
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Supply Management rules
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Stock collection design
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Second level Inventory reduction plan
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Technical and statistical second levels forecasting and plannin
Case Study
CASE 1: Forizons was assigned to lead a global spare parts inventory reduction plan for a helicopter manufacturer
Global spare parts inventory was reduced by 30% while maintaining service levels (for some subsidiaries service level increased by 5%)
CASE 2: Forizons helped a railway equipment manufacturer to reduce its spare parts inventory by 34% through advanced data analytics.
