The current challenges in inventory management require a comprehensive solution strategy. A confusing database, system disruptions and a lack of evaluation options often lead to a lack of transparency regarding stocks in the plant. The general lack of digitalization in logistics causes manual processes in warehouse management, including the often time-consuming creation of Excel reports. This makes it difficult to evaluate, manage and optimize inventories along the chain from raw materials to finished goods.
“As part of a joint strategic project with EMPORIAS to define our logistics strategy for the coming years, we decided to implement a proactive inventory management system. To this end, EMPORIAS developed an inventory management dashboard in Power BI in close collaboration with our subject matter experts. With this dashboard and the established rule-based processes, we have transparency over the entire inventory in the plant at all times and can derive measures to optimize the inventory situation. We greatly value our collaboration with EMPORIAS due to the project successes achieved and look forward to continuing to rely on EMPORIAS’ technical expertise and implementation-oriented approach in future projects.”
To overcome these challenges, we at EMPORIAS have developed a structured approach. In a first step, we work with our customer to define key performance indicators (KPIs) to clearly illustrate the inventory situation across the entire chain. This is followed by the careful selection of suitable, meaningful data pools. In the next step, these are connected to our inventory management tools to ensure a live evaluation of the current situation. The KPIs are visualized in an interactive and AI-supported inventory management cockpit, which shows optimization approaches and potential. In order to achieve optimal results in the long term with the help of the cockpit, we define control processes for continuous updating, evaluation and definition of measures. To ensure a smooth transition to the customer organization, the entire process is documented in detail and end users are trained.
A thorough analysis of current system data, comprehensible presentation in graphics and complete evaluation of the stock situation from raw materials to finished goods form the basis of successful stock management.
The focus is on defining clear and measurable goals for inventory management, such as reducing excess stock, improving delivery capability or lowering storage costs, and is actively supported by our AI-supported inventory management cockpit. The cockpit directly alerts the user to overstocking and understocking and suggests effective countermeasures.
In our experience, another key success factor is the involvement of the customer organization right from the start. Only the full acceptance of the employees ensures the subsequent success of the project. Our aim is always to enable our customers to derive their own measures for inventory reduction. Our modern software solutions play a decisive role here and enable efficient and transparent 'real-time' inventory management. In view of the current shortage of skilled workers and cost pressure, the resulting increase in efficiency is a decisive advantage.
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