To improve your business operations, you should consider inventory management strategy. Inventory management strategy helps you manage and control the inventory items in your warehouse with minimum resources and maximum efficiency. It involves ordering, storing, using, and selling your inventory in a way that optimizes your cash flow and profitability. There are different types of inventory management strategies, such as:

• Just-in-time management (JIT)
• Materials requirement planning (MRP)
• Economic order quantity (EOQ)
• Days sales of inventory (DSI)
• Vendor managed inventory (VMI)

Each of these methods has its pros and cons depending on your business needs and industry. Inventory management strategy ensures that you always have enough stock to fulfill customer orders and proper warning of a shortage.

Inventory modelling is a mathematical approach to optimize the decisions related to ordering, storing, picking, and selling inventory items. Inventory models help businesses determine the optimal level of inventory, the frequency of ordering, the quantity of goods or raw materials to be stored, and the flow of supply and demand.

We evaluate the right type of tools among:

• Economic order quantity (EOQ)
• Inventory production quantity (IPQ)
• ABC analysis
• Fixed reorder quantity system
• Fixed reorder period system.

Each of these models has its own assumptions, advantages, and limitations depending on the business context and objectives.

Supplier order process design is about efficient and effective workflow that handles inbound material orders. Procurement process typically consists of several steps such as need identification, vendor selection, submitting purchase requisition, generating purchase order, receiving invoice and order, and processing payment

Supplier order process design can be done manually or with the help of software tools that automate and streamline the process. Automating procurement process typically involves integrating the different data, apps, and systems used in procurement to create a single, unified system. This can help to create a more accurate, efficient process and can help to contain costs, improve visibility, and protect against supply chain disruptions.

We map your current procurement process, audit the current process, identify key areas for automation based on labor-intensive, repetitive bottlenecks, and choose an analytics solution that supports automation, build automation workflows and approval points, and measure automation success and improve.

Forecast modelling applies statistical technique using historical and current data to predict and forecast likely sales, supply and demand, consumer behavior. It involves analyzing data patterns and trends with the help of various statistical and analytical tools to project what they learn on a model generated to forecast likely outcomes. There are different types of forecasting models, such as:

• Time series forecasting
• Regression analysis
• Qualitative forecasting
• Machine learning

The objective of a forecasting model is to extrapolate past and current trends with the help of various statistical and analytical tools to predict a future scenario. Based on availability and quality of data, time horizon and frequency of forecast we can support you to choose and implement the best model that suits your needs and IT infra.