SOMANCO – Inventory Optimization
Having the right amount of inventory to provide high service levels while avoiding stock-outs, continues to be a challenge in today's business environment. Organizations with inventories of finished goods, work in process, raw materials, and repair parts continue to hold more inventory than needed to provide high service levels to customers while avoiding stock-outs.
SOMANCO has joined with a group of experts who specialize in this area, providing both consulting services and software solutions to address this critical area impacting both operational and financial performance. The results being achieved are outstanding, with the average customer seeing inventory reductions in excess of 35% while they are improving their service levels to their customers.
Case Studies and Success Stories -
Pulp and Paper company reduces finished goods inventory by 35% and improves customer service levels.
Telecommunications company reduces inventories by over 40%.
Spare parts distribution company reduces store inventories by an average of 20%, without impacting service levels.
Aviation company reduces spares inventory by $10 million and improves service level by over 10%.
Pulp and paper company reduces Maintenance, Repair and Overhaul inventories by 40%, without impacting service levels and outages.
Distribution company improves forecast accuracy by 30%, enabling better inventory management decisions.
Mining company reduces materials inventories by 30%.