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Reducing inventory while attaining the desired service performance

Vincent, Willem (2021) Reducing inventory while attaining the desired service performance.

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Abstract:Slimstock is Europe's leading inventory optimization specialist. Slimstock's inventory software package is an integrated solution for forecasting, demand planning, and inventory control and is designed and built to help their customers get the right inventory to the right place at the right time. A Big Benelux DIY company is a customer of Slimstock and uses Slimstocks inventory optimization software to forecast demand and make ordering decisions for 4800 products in their central warehouse. The problem that the DIY company and Slimstock are facing is that they expect that for some products they miss their desired service performance. Service performance can be too low such that fewer products are sold on time than targeted or service performance can be too high such that too much inventory is in place for the desired service performance. Service performance is indicated on an aggregated level for every product group. However, it is not known which products have a lower service performance than desired and it is often also not known why this is the case.
Item Type:Essay (Bachelor)
Clients:
Slimstock, Deventer, Netherlands
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics
Programme:Industrial Engineering and Management BSc (56994)
Link to this item:http://purl.utwente.nl/essays/88371
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