The process of spare parts demand planning is a key success factor for any business that needs to manage inventory. Actively collecting and analyzing sales data, verifying production plans and identifying collateral conditions and assumptions without an automated process however, is likely to drain resources from value added activities. That approach lacks accuracy, leads to forecasting errors and production plans that generate overstock or inventory shortages. Our Spare Parts Inventory Optimization Application allows the enterprise to implement accurate forecasting that optimizes stock levels, improves customer satisfaction, protects the brand’s reputation and increases sales.
The Spare Parts Inventory Optimization Application is designed to forecast the demand for spare parts. It manages all business and product hierarchies, and automates the process of spare parts management, implementing a statistical approach. The Spare Parts application is both easy to use and supported by the most advanced forecasting techniques, which ensures forecast accuracy.
The Spare Parts Inventory Optimization Application provides accurate demand forecasts for thousands of units. The application takes into account the amount of stocked items, the lead time for each individual component, the life cycle of the products and other factors, such as replacements and phase-in / phase-out. It then manages all the elements needed to get an accurate and reliable forecast. The application allows the enterprise to efficiently manage and control the whole process of forecasting and production of components. When integrated with the Safety Stock component you gain the ability to update intra-period forecasts and notification of stock level or lead time anomalies for single components.
The scalable Accenture Insights Platform includes retail and manufacturing applications, providing fast and easy access to an array of industry and functional applications that bolt onto the platform. Clients, in turn, achieve quicker time to market and more rapid results. Clients also benefit from Accenture Analytics’ wide range of capabilities rooted in:
Industry knowledge. The validity of our advanced analytics outcomes is underpinned by our deep knowledge of the sector.
Business. Applications are designed for business users and focused on business results, minimizing the complexity often related to advanced analytics. Getting to accurate outcomes does not require users to have statistical, mathematical or IT knowledge.
Flexibility. Applications are based on a framework that can be easily integrated in an enterprise operational environment to enable business process action.