Product overview
IBM® Maximo Inventory Optimization is a cloud-based SaaS solution that combines statistical analyses, prescriptive analytics and optimization algorithms to help users in asset-intensive industries to improve margins, increase service levels, and minimize unplanned downtime. IBM Maximo Inventory Optimization helps to ensure that the right spare parts are available at the right time, at the right cost, balancing procurement costs against holding costs and weighing the risk and impact of potential stock-out.
Benefits and capabilities
IBM Maximo Inventory Optimization is designed for the unique challenges of maintenance, repair, and operations (MIO) environments. The solution provides an accurate and detailed picture of MIO inventory performance and powerful capabilities to make informed decisions that balance cost and risk.
Use IBM Maximo Inventory Optimization to:
- Optimize your stock levels within acceptable risk tolerance thresholds
- Move from a reactive to a prescriptive approach to avoid costly, unplanned events
- Leverage big data technologies to aggregate massive amounts of existing customer data
- Segment data from your ERP and EAM systems by using key parameters like cost, criticality, usage, and lead time
- Leverage built-for-purpose algorithms to improve intermittent and variable demand forecasting
- Combine urgency, value, and risk-based factors to assign objective priority scores
- Visualize and speculate by using “what if” scenarios to help make better decisions and take effective actions
Features
IBM Maximo Inventory Optimization provides the following features:
- Service level analysis
- Increase service levels by ensuring the right parts are available at the right time.
- Inventory optimization
- Align safety stock with business impact by using an automated, analytics-based approach to improve internal service levels by continuously maintaining the ideal mix of critical spares and materials to ensure they are available at the right time and at the right cost.
- Work queues
- Work prioritization to monitor progress, workloads, and also to view work by organizational area and data sets.
- Criticality analysis
- Segment your inventory by criticality and business impact of MIO spares and materials.
- Lead time analysis
- Determine more accurate lead times beyond supplier provided information alone to reduce downtime.
- Item scoring
- Combines urgency, value, and risk-based factors to assign objective priority scores to tasks, helping you to align best practices globally and work on the best parts that deliver value the quickest.
- Analytics
- Dashboards and reporting capabilities to provide faster, smarter and easier ways to build and generate reports for greater visibility and insights across MIO operations.
- Quick reports
- Rapidly generate and display reports and KPIs across all your key metrics.
- Baseline analysis
- Analyze inventory value based on average price, inherited items, and other criteria.
- Demand forecasting analytics
- Advanced demand forecasting analytics use a set of algorithms to help to improve forecasting accuracy and stocking level recommendations; enhance service levels; and reduce costs.
- What if analysis
- Provides the ability for you to test different scenarios and find your business’ “sweet spots”.
- Custom layouts
- Lay out screens exactly the way you want and need them. Customize work queues to align with business processes.