Inventory Optimization & Planning Services

 

About Right Sized Inventory

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Right Sized Inventory’s patented predictive analytics inventory planning and optimization technology was created by a team with deep background in supply chain operations, inventory planning and statistical analysis. Like many innovations, RSI came from painful experiences in our past lives where we just didn’t feel like we had the tools to do our jobs right.We spent many years as supply chain consultants where we observed inventory planning practices that could have been significantly improved with better tools. Our mission is to take the guesswork out of estimating the right amount of inventory for your business. We believe that without the right tools, most companies either don’t set inventory levels using effective math and science, or they invest too much time attempting to get to the right answers.

 Who We Are

Our technology is the principle way we’ll deliver ongoing, sustainable value in your inventory planning efforts. Still, we offer inventory optimization consulting services for those clients who need additional assistance. Our services help improve replenishment processes, supplier lead times, supplier reliability and more.

Experience Where it Counts

We have a team of highly qualified consultants with broad experience in overall supply chain management and deep expertise specific to inventory planning and replenishment. Whatever your inventory optimization challenge, reach out to us. We’ll either assemble a resolution plan that we know will work, or we’ll preserve our integrity and refer you to other solution providers.

Replenishment Optimization Program

This program is offered to new customers at the beginning of an RSI deployment. It is attractive to customers who know they need the RSI technology for Inventory Planning, but also feel their overall replenishment processes may need to be improved. This standard program covers all of the following objectives:

 Objectives / Deliverables:
  • Review items not planned for inclusion in the RSI program to ratify replenishment strategy on those items
  • Discuss inventory locations and whether RSI analysis should be conducted at more or fewer locations within client’s overall network
  • Review current replenishment methods vs. analyzed output from RSI; identify items where an alternate replenishment method would produce lower required inventory at the same service level
  • Review replenishment method configuration in the client’s ERP system; compare vs. best practices
  • Discuss replenishment triggers; ensure accuracy and timeliness of triggers to avoid early or late replenishment
  • Discuss “exception” items with outlier tendencies, significant trends or seasonal demand patterns; identify optimal strategy to address in RSI solution
  • Discuss target service level; ensure client understands impact of service level on target inventory levels; conduct sensitivity analysis to identify optimal service level for client’s business
  • Review inventory item replenishment lead times; ensure lead times are accurately represented in RSI data inputs
  • Identify “Top 10 list” where reducing the length and/or variability of lead times would offer compelling financial benefits
  • Review replenishment intervals; analyze the impact of different replenishment intervals on total inventory – recommend optimal replenishment interval that is realistic for the client to execute
  • Review order multiples and re-order quantities (ROQ); discuss order multiples or ROQs driving excess inventory to investigate potential for reduction

Annual Replenishment Review

This program is included in our “Pro” package which also encompasses advanced research analysis available at all times within the RSI solution. This is a condensed version of the Replenishment Optimization Review and focuses primarily on ensuring the client is getting the best possible results from the RSI solution.

Objectives / Deliverables:

  • Review items not included in the RSI program to ratify replenishment strategy on those items
  • Review current replenishment methods vs. analyzed output from RSI; identify items where an alternate replenishment method would produce lower required inventory at the same service level
  • Review supplier lead times; identify “Top 10 list” where reducing the length or variability of lead times would reduce required inventory
  • Review re-order quantities (ROQ); discuss ROQs driving excess inventory to investigate potential for reduction
  • Review “exception” items to ensure proper handling and discuss potential methods to further improve inventory planning for these items
  • Half day “health check” phone conference to review all items and for open Q&A regarding the RSI program

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