This unparalleled effectiveness is the result of unique demand and inventory modeling technology specifically designed to overcome the gross approximations (and limitations) of traditional inventory approaches. Typical inventory “segmentation” approaches (often incorrectly labeled “inventory optimization”) group SKU-Locations (SKU-L) into arbitrary “segments” and then apply “one size fits all” logic by assigning all SKU-Ls within the segment the same service level target. These approaches lead to poor recommendations, very distant from the optimum.
ToolsGroup MEIO instead automatically assigns a different service target to each individual SKU-L, achieving the desired global service level while simultaneously yielding the mathematical optimum for a variety of functions including minimum inventory investment, minimum storage space, maximum net margin, minimum obsolescence, maximum freshness and more.
ToolsGroup MEIO transforms inventory management with data driven, automated optimization. Its proprietary analytical relationships between inventory and customer service levels have proven to be highly reliable, even for very slow moving and intermittent demand items. This allows the system to optimize even very large assortments, including products in the “long tail”, balancing inventories across different locations and different Bills-of-Material with machine learning capabilities that enhance traditional demand forecasts by incorporating external data.
ToolsGroup MEIO maximizes inventory efficiency, and accelerates growth via automated supply chain intelligence. It leverages his unique demand and inventory modeling technology with existing order data to reduce stock-outs and improve inventory turns. It optimizes complex supply chains effectively, across multiple distribution and manufacturing echelons.
This easy-to-use and implement solution dramatically reduces computational workload, empowering employees to focus on higher level inputs impacting day-to-day operations and adjust where needed, enables employees and partners to manage demand via a collaboration hub accessible on any device, anytime, leverages intuitive visualizations and dashboards to report core analytics and manage exceptions.