Without a clear and quantified guiding principle, planners find themselves having a hard time determining inventory safety stock levels. Often, it becomes an “art”, which involves manual judgement and spreadsheets, rather than a science. It is not uncommon to see that a company’s safety stock levels stay the same for years despite the business conditions have changed drastically. As a result, a company’s bottomline is negatively impacted.
In the webinar, Dr.Jay Zhou will introduce a much-need guiding principle that pinpoints the optimal safety stock level to maximize the profitability. It is a powerful and quantitative principle yet a straightforward one that can be easily understood by everybody. The benefits of the approach are many-faceted: fully measurable financial outcomes, improved planning productivity, etc.
Dr. Zhou will show how it actually works by using PeakProfit, a software tool from Friesian Analytics that implements the principle, and finding the optimal safety stocks for stock items convincingly and elegantly in a live demo.
The webinar is designed for all inventory professionals and managers regardless of if they have 2 months or 20 years of working experience. Please register for the webinar scheduled on Thursday, January 13th 2022 - 11:00 AM (EST) here