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Critical Inventory Optimization

Reducing inventory costs. Increasing availability.

Critical Inventory Optimization (CIO) is an intelligent, predictive software solution that identifies the optimal holdings of every stock item based on usage patterns and criticality. CIO automatically analyzes and adjusts stock levels and reordering requirements on an ongoing basis.
 

Key features:

The CIO solution maintains optimal inventory levels while preventing stock-outs of critical parts, helping organizations save millions of dollars in working capital. The solution, which can integrate and operate with any EAM or ERP system, includes:

  • Statistical inventory analysis – Maximizes availability of plant and equipment and frees up working capital by ensuring that stocking levels of both production-critical and non-critical items are maintained at optimal levels
  • Vendor scorecarding – Ranks and reviews vendors so that good performance can be rewarded, discrepancies tracked, and poor performance managed
  • Warehouse scorecarding – Produces tailored performance scores based on measurement of warehouse KPIs
  • Catalogue Management – Provides intuitive new items cataloguing windows which instantly find appropriate Standard Material Descriptions for fast, consistent results

Key benefits:

Critical Inventory Optimization achieves inventory levels that meet the productivity demands of the organization without holding excess inventory. It also measures and optimizes cataloging, warehousing and vendor management. Benefits include:

  • Improved availability and reduced stock-outs of critical items
  • Reduced working capital tied up in inventory
  • Improved vendor performance
  • Accurate catalog descriptions and classifications
  • Managed workflow for the cataloguing process with a managed workflow
  • Seamless integration with any EAM or ERP system
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