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Reduced inventory costs through demand Planning & Inventory Optimization
About the client
A Global CPG Company based out of US
Accumulation at a large number of Distribution points leading to high inventory level concerning sales
Need to minimize inventory holding at SKU level & distribution costs
Maximize demand fulfillment rates and minimize stock-out situations at retail outlets
Innover developed statistical models (time series, multi-level/hierarchical models, etc.) for demand Planning & Inventory Optimization, future sales predictions for all SKUs at retailer levels by analyzing past sales, warehouse SKUs and order history.
Identified similar products for newly introduced SKUs from consumer positioning perspective and developed forecast models to predict launch sales.
Integrated sales forecasts with warehouse SKU information, order information and business inputs on expected sales spikes to arrive at orders for all SKUs, at retailer levels
Solved multi-objective optimization problem of inventory management by applying genetic algorithm-driven Particle Swarm Optimization in an Agent-Based Modeling (ABM) framework
reduction in inventory costs in one year.
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