The objective of implementing any advanced analytics solution should be to solve a business problem. Typical inventory challenges include multiple forecasts and plans, insufficient and outdated information, as well as inadequate tools to support proper inventory planning. These issues result in lost sales and/or excessive inventory investment. Further, retailers and consumer goods companies are seeking help with eroding profitability and margins caused by trying to control inventory with price as well as through accommodating new fulfillment requirements.
Moreover, many clients admit that the existing data needed to optimize their inventory investments is overwhelming. We often encounter companies challenged with too much or not enough data, the data they do have is not clean, and it comes from disparate sources.