Introduction: Artificial Intelligence (AI) has been a buzzword in supply chains for over a decade. The promises of leveraging machine learning to deliver predictive and prescriptive analytics.
Connecting Inventory Levels and Service Levels: Most of us agree that the high-level goal of inventory optimization is to reduce inventory levels while optimizing for desired service levels or.
There is an old saying in operations management; “You need to manage your supply chain, or it will manage you.” Few fields in your MRP system impact the amount of inventory in your supply chain as.
Understand Expected Service Levels The first step in determining the “right” inventory level is to understand the expected service level associated with that inventory.