Inventory Big Data

Why is it important to master data on stocks and work in progress in an industrial company?

There are several reasons why it is important to master data on stocks and work in progress in an industrial company:

  1. Cash management: Knowing the levels of stock and work in progress can help to better manage the company’s cash flow, ensuring that funds are not unnecessarily blocked in excessive stocks or too high work in progress.

  2. Improved efficiency: Effective management of stocks and work in progress can contribute to improving the efficiency of the company by minimizing storage costs and reducing production times.

  3. Demand forecasting: Mastering data on stocks and work in progress also allows for better forecasting of production needs and planning for raw material demand accordingly.

  4. Quality of service: Finally, proper management of stocks and work in progress can contribute to improving the quality of service provided to customers, ensuring that finished products are regularly available and reducing delivery times.

MRP review : Net requirement calculations

MRP review Net requirement calculations

 Parameter calculation according to standard inventory methodologies

 Advanced calculation and formulas to improve inventory performance

MRP, or Material Requirements Planning, is a process used to manage the supply chain of an industrial site. It involves calculating the materials and resources that are needed to produce a product or service, taking into account factors such as the available inventory, forecasted demand, and production schedules.

MRP calculations are typically performed using software tools that analyze data about the site’s operations and supply chain. This data includes information about the materials and resources needed for production, as well as data about the site’s capacity, inventory levels, and forecasted demand. Based on this data, the MRP system generates a plan for purchasing and producing the necessary materials and resources.

MRP calculations are important for an industrial site because they help ensure that the site has the materials and resources it needs to meet production demands. This can help the site operate more efficiently and effectively, and reduce the risk of production delays or shortages. MRP can also help the site optimize its inventory levels and reduce costs by ensuring that it only orders the materials and resources it needs, when it needs them.

Optimisation of MRP settings according to the ABC log TM methodology

Optimisation of MRP settings according to the ABC log TM methodology

Review of ABC log crossed classes for better inventory control

 Extended mathematics for inventory controls and advanced data tools

Material Requirements Planning (MRP) and Capacity Based Planning (CBN) are production planning tools that allow companies to efficiently manage their supply chain and production. These advanced calculation methods allow for more accurate forecasting of raw material and labor needs, as well as the production capacities needed to meet demand. They can help companies reduce costs by minimizing unnecessary inventory and avoiding production delays. They can also improve the quality of the final product by enabling better planning and resource utilization. Finally, these advanced calculation methods can help companies be more responsive to changes in demand and unforeseen events by providing them with accurate and up-to-date data on their needs and production capacities.

EXPERT

What is MRP ?

An advanced MRP (Material Requirements Planning) parameter review is a detailed examination of the MRP system’s parameters and settings, specifically as they relate to part numbers and bill of materials (BOMs). The goal of this review is to ensure that the MRP system is set up correctly and is accurately calculating the materials and resources needed to produce the products or services of the industrial site.

During an advanced MRP parameter review, a team of experts will typically review the parameters and settings of the MRP system, as well as the part numbers and BOMs of the site’s products or services. They will look for any errors or inconsistencies that may be affecting the accuracy of the MRP calculations, and work to resolve them. They may also make recommendations for improving the MRP system or the way it is being used at the site.

Conducting an advanced MRP parameter review is important for an industrial site because it helps ensure that the MRP system is functioning properly and is providing accurate and reliable information about the materials and resources needed for production. This can help the site operate more efficiently and effectively, and reduce the risk of production delays or shortages.

What is the Big Data on Inventory and Work in process

Inventory big data refers to the large volume of data that a manufacturer generates and collects about their inventory. This data can include information about the quantities of raw materials, finished products, and work-in-progress items that are held in inventory, as well as details about the location, cost, and value of these items. By analyzing this data, manufacturers can gain insights into their inventory management practices and make informed decisions about production, warehousing, and distribution. Additionally, manufacturers can use inventory big data to optimize their supply chain, reduce costs, and improve customer satisfaction by ensuring that they have the right products in the right place at the right time.