To review
your inventory policies
To horn your stocking and ordering quantities
To forecast your ordering time
Hofincons’ Inventory Optimization
programme, evaluates inventory norms that forms part
of the plant assets, as the effectiveness of investment
on inventory has a direct bearing on a company’s
performance and profitability.
This program involves in analyzing
the prevailing inventory policies, levels, consumption/
failure pattern, service levels and suggests the optimal
purchase quantity and time. Invariably it provides the
lead-time stock, safety stock, minimum level and reorder
quantity.
Scientific and mathematical formulae
are applied, depending on spare parts strategies. Hofincons
uses its inventory optimizing software either
or depending upon the industrial requirements.
Benefits
Identifies gaps where stock levels
are shown to be excessive or low
Releases working capital from being
tied up in over-stocked items
Balances buying and stocking cost
Reduces purchase/stores activity
levels
Improves turn over ratio
Provides a mechanism for setting
stock policy
Eases out the stock-out risk
Enhances Service level
Conclusion
The goal of inventory control
is to map supply and demand patterns and to maintain
a balance between the costs and the benefits of holding
stock. This program paves way to achieve the vision
of inventory control in process and manufacturing industries,
especially in spare parts monitoring where the demand
is unpredictable.
