How Maximo Inventory Insights Prioritizes Areas of Focus
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Maximo Inventory Insights is a preconfigured analytics based management Software as a Service offering from IBM that automatically optimizes inventory levels for Maximo Asset Management systems. This solution prioritizes areas of focus and displays the information on a web page in a graphical format. In order to have all the information in one location to enable the greatest costs savings, Maximo Inventory Insights displays all of the following on one screen: an overview of reorder point analysis, inventory cost by site, top items to increase reorder point, top items to decrease reorder point, and specific site information.
Maximo Inventory Insights helps to prioritize areas of focus by displaying an overview of reorder point analysis. At a glance, it shows you the percentages of inventory that needs adjustment right now by increasing or decreasing your inventory. This helps you prioritize where to start reducing or increasing inventory to get the highest cost savings in the least amount of time.
Maximo Inventory Insights helps to prioritize areas of focus by displaying a reorder point analysis of inventory by site. This analysis shows the sites that have the highest percentages of inventory. This helps you identify which sites carry the largest inventory. For example, a global retail company can see the sites across the planet for which stores are carrying the largest inventory. These sites could be addressed first for fast return on investment.
Maximo Inventory Insights helps you prioritize areas of focus by displaying the top items to increase. This analysis shows the items that are trending to an out-of-stock condition. Without critical parts, production assets are at risk for outages have financial impacts that can be costly. For example, an electric company would want to minimize outages that deliver power to their customers and would not want to run out of parts that could cause a major headache. This solution can show you how to protect your high value assets by stocking adequate parts for when you need them.
Maximo Inventory Insights also helps you prioritize areas of focus by displaying the top items to decrease. Carrying too much inventory is costly. Carrying too much aging inventory is even more costly. The solution uses lead times and actual item usage to determine if an item has moved in the last 12 months and uses this information to determine whether to decrease inventory.
Maximo Inventory Insights also helps you prioritize areas of focus by displaying specific site information. In addition to displaying the sites with the highest value inventories, each site is shown with their overall percentages of misaligned reorder points. By selecting a site, you can view that site's top items to increase and its top items to decrease. Storeroom information can also be displayed in the same manner.
In summary, Maximo Inventory Insights displays all of the following information on one screen: an overview of reorder point analysis, inventory cost by site, top items to increase reorder point, top items to decrease reorder point, and specific site information. This information helps you quickly identify where to start in inventory optimization for the largest cost savings.
Key Words: "Predictive Inventory Optimization", "Inventory Analysis", "Inventory Savings", "Inventory Planning"