Dynamic Inventory: Raw Materials
Raw material inventory management and reorder point recommendations to help planners avoid stockouts and hit target service levels.
Big inventories, bigger problems
Supply shortages and volatile demand are the new normal for complex supply chains. That means you can’t quite trust your forecasts like you used to. A lot of businesses compensate by building bigger inventories to avoid stockout, but that ties up working capital, piles on storage costs and risks obsolescence.
Thankfully, there’s a more sensible solution.
Don’t panic, Peak’s here
The Dynamic Inventory: Raw Materials application optimizes inventory management by connecting real-time data from across your entire business in one easy-to-use platform, using AI to create accurate demand forecasts. You’ll know exactly when and how much to reorder to avoid stockouts and unplanned downtime. That means you can make faster and smarter decisions.
Not an AI expert? Don’t worry. Peak does the work for you, with a massive team of data scientists on-hand who understand your industry.
Effective raw material inventory management software
Finely tune inventory levels for every raw material in your business:
Keep production lines running
Reduce working capital tied up in inventory
Decrease storage costs
Hit sales & service targets
Maximize OTIF performance
Under the hood
Dynamic Inventory: Raw Materials is an inventory management software built on Peak, an AI platform. It accurately forecasts demand so you can set target raw material inventory levels at each site, balancing production, sales, service, and availability with the costs of holding too much inventory.
- Combine data
- Add intelligence
- Make decisions
Ingest, transform, and organize large volumes of data from across your company.
- Current inventory levels
- Bill of materials
- Supplier data
- Geography & lead times for plants producing work-in-progress and finished goods
- Sales & consumption data for work-in-progress and finished goods
Apply demand forecast and safety stock models to your data.
Dynamic Inventory: Raw Materials applies a forecast model to predict demand and links this to the Bill of Materials for each product. The application’s safety stock models tackle uncertainty in a way that humans can’t, optimizing for volatility in the forecast and finding your perfect inventory level.
The application adapts to your business, taking into consideration:
- Direct procurement needs
- Bulk purchase opportunities
- New product introduction material needs
- Product phase out material needs
- Minimum order quantities
Visualize safety stock and reorder points.
Visualize safety stock and reorder points required for each raw material at each plant location.
- Compares tradeoffs in costs with different service levels
- Flags components at risk of over or under-stocking
- Recommends reorder points and quantities required
See Dynamic Inventory: Raw Materials software in action
The home of AI applications
Library enables you to explore and deploy our range of configurable AI applications, aligned to the critical use cases for your industry. With Library, deploying connectors, workflows, APIs and Web Applications can happen at the click of a button.