- Forecast by SKU, cost, item, currencies, margin, country, channel, customer location, etc.
- Drive inventory and safety stock levels according to customer requirements using the Service Level Optimizer
The situation where variations among the observed samples can be attributed to a constant system of chance causes.
The use of statistical methods to model the demands and lead times experienced by an inventory item or group of items. Demand during lead time and between reviews can be modeled, and reorder points, safety stocks, and maximum inventory levels can be defined to strive for desired customer service levels, inventory investments, manufacturing and distribution efficiency, and targeted returns on investments. Syn: scientific inventory control. See: fixed reorder quantity inventory model.
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