ToolsGroup MEIO optimizes stock to lower costs, improve service levels and streamline operations
ToolsGroup’s Multi-Echelon Inventory Optimization (MEIO) calculates the optimal inventory mix across your products and network to meet your customer service level targets at the lowest cost. Our unique inventory modeling technology eliminates the gross approximations of traditional inventory management solutions, creating very reliable relationships between inventory and service levels for each SKU and location, including products with hard to forecast in the “long tail” demand.
To truly serve the end customer, the entire network - from raw materials suppliers and factories through distribution centers and wholesalers - needs the right items in stock. Our MEIO solution suggests optimal inventory levels at each stage of the supply chain, simultaneously balancing across multiple echelons, locations, and different Bill-of-Material (BOM) levels. Its machine learning engine finds the most globally efficient balance between upstream and downstream inventory while optimizing safety stocks. It supports centralized demand planning, lowers costs across the supply chain, and streamlines operations.
- Automatically define your optimal inventory mix across your entire supply chain
- Increase efficiency by maximizing inventory turns while continuing to improve customer service levels and fill rates
- Reduce costs by lowering inventory levels by up to 30%
- Better manage risk with MEIO’s probabilistic forecasting engine, ensuring you’re prepared for any number of different demand scenarios rather than a single target prediction
- Optimize on an individual SKU-L basis, ensuring that each item is given unique consideration – regardless of whether their demand is seasonal, fast or slow-moving, or intermittent
- Empower team members to focus on higher-level inputs impacting day-to-day operations