Inventory Analytics is the process of how data can be extracted, refined and anal_x0002_ysed to deliver actionable business insights in the management of materials. These insights can deliver improved efficiencies for inbound and outbound processes, inventory levels and operations in a business.
Outbound shipment process analytics can help understand a firm’s shipment per_x0002_formance in terms of quality and time – whether material is made available on time to meet committed service levels. It also helps in compare performance across var_x0002_ious fulfilment strategies. In managing inventory, analytics helps in identifying the EOQ and Safety stocks of both Raw Material and Finished goods to optimize inven_x0002_tory keeping the cost, availability and desired service levels in mind. Analytics is useful in tracking on hand, on hand aging, obsolescence slow and fast moving sku’s.
This workshop is the second in a series of workshops for supply chain professionals to work with data-driven analytics-based tools. This workshop is designed to help create an action plan for transformation using analytics with a focus on the Materi_x0002_al Management function. A practice focused workshop, it will show participants how they can turn data insights into business outcomes and forge a data culture with a single version of truth across functions. Future workshops in the sequence will highlight the role of analytics in the areas of Fulfilment, Supplier Risk & Perfor_x0002_mance and more.
|23 Feb, 2022
|26 Feb, 2022
A deeper understanding of deriving value in the Inventory Management Function. How to look for process efficiencies / Digitization / ML opportunities to achieve service and inventory targets. Improving Inventory Turns Ratios and reducing Inventory using Analytics models. A deeper understanding of available tools and technologies that are applicable for materials management from an analytics perspective
22 corporate professionals from companies such as:
– TVS Motors
– Indian Oil
– CPC Diagnostics
Foundations of Analytics
▶ Introduction to Data and Analytics
▶ Add on Statistical Tools in Excel
▶ Analyzing Data using Statistics in Excel
Shipment Performance Analytics
▶ Perfect Order Metric
▶ Fulfillment performance across Modes
▶ Excess and Shortage Metrics for specific SKU’s
Managing and Classification Inventory Models (Hands on exercise in excel)
▶ On-hand Aging model
▶ Identify Fast and Slow-moving items
▶ ABC Analysis
Inventory Optimization Model (Hands on Exercise in Excel)
▶ Introduction to Optimization Techniques in Excel
▶ Creating an ‘Inventory to be held’ Model with Demand uncertainty and constraints to
▶ minimize Costs
Inventory Valuation Models
▶ How to value inventory using Data
▶ Identification of relevant costs to be considered in Inventory Valuations
The delivery of the program was done through interactive sessions involving case studies from practice of resource persons and hands-on practice on Excel
Mr. Hemant Gupta
is currently the founder and CEO of Navigdata, an analytics partner for companies who are looking to be data driven in their decision making. With over 20 years’ experience in the IT industry with a focus on enterprise applications, analytics among others, he has worked extensively across the spectrum of Supply Chain, manufacturing, value chain integration and digital transformation. A renowned thinker and business strategist, Hemant is an IIM and MIT Sloan alumnus.
brings with him over 20 years of experience in the IT / IT services industry with a focus on BFSI, Telecom and Automotive as industry sectors. He is a keen business modeler and specializes in AI and digital consulting with a focus on services companies. He specializes in gamification models and is an IIM and Harvard alumnus.
is a certified consultant with M/s Frontline Systems Inc, USA a leader in providing Predictive and Prescriptive Analytics solutions for Industry. He has successfully executed consulting projects for diverse Industries to help them improve their operations through analytics solutions. He is currently Head – External Programs at ISME, Bangalore