Forecasting Supplies & Inventory: 5-Wk Implementation

LTIMindtree Limited

Reduction in frequency of stock outs. Lower spend base on account of reduction in frequent spot and emergency purchases. Lower manpower cost Lower inventory cost by scheduling of supplies and maintain

Forecasting of sales is based on past data, changes in business conditions, etc. Forecasted sales data is inserted in the database and the dashboard displays the visuals for the management to make business decisions. This data is utilised by the Operations team to generate production plan and purchase requisition. Purchase department team generates purchase orders for each product/component. A monthly review also ensures that any changes in the requirement / inventory are taken care of.

Value Add:

  1. A user-friendly interface in the form of a canvas Power Apps application which makes interaction between various stakeholders more structured. The canvas app also gives additional flexibility to quickly view and validate the various components/parts being purchased and to generate purchase orders. It is thus a holistic solution to avoid any on spot or adhoc purchases of components. This makes the business process flow structured.

  2. In addition, approvals and notifications at every stage using Power Automate guarantees stakeholder interaction and at the same time keeps them abreast with the latest updates.

  3. The central location also helps save time, streamline the process in addition to timelines for each stakeholder.

  4. Periodic (monthly) reviews using Power Automate Desktop to keep a check on the requirement / inventory levels.

  5. ML based forecasting and a well designed dashboard using Power BI with insights which help in better decision making.

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