Minimize your storage risk through inventory optimization
Reliable inventories are essential for effective planning. Whether inventory optimisation, scheduling or purchasing, the system-supported inventory forms the basis for a wide range of planning processes. Which is why it is crucial to monitor inventory quality on an ongoing basis and not just annually. In this respect, an inventory alone is not sufficient for this task. Moreover, the legal requirements do not correspond with the objectives of an inventory control. Inventories are always complete and value-oriented – in contrast to inventory controls, which are criticality-oriented and designed to monitor critical items of stock more closely than others. They should, however, still deliver comparable data in order to act as an early warning system.
StarWaRP Warehouse Risk Profiler – risk-based ABC analysis for inventories
The criticality of an article is determined by a number of factors. Classic ABC analyses normally only take value or turnover rate into account.
StarWaRP, on the other hand, examines stock according to various criteria which are set in relation to one another. On the basis of this, every article is assigned a risk index. These indices are summarised into ABC clusters, which produces an efficient system for risk-based inventory evaluation and subsequent control. The controls are carried out for each cluster using random sampling methods, such as the sequential test with STASEQ. These generate comparable KPIs which can be used for a wide range of purposes, such as scheduling, inventory optimisation and risk management.
Alongside the inventory, this creates a safety basis that enables both efficient and risk-based inventory monitoring.