O&G Supply Chain Solutions | Inventory Optimization - Wipro

harry

O&G Supply Chain Solutions | Inventory Optimization - Wipro

The O&G supermajor was facing several business challenges as their IT systems and processes did not support their supply chain planning or demand forecasting. It didnot also support the Demand Forecast Accuracy (DFA) up to the desired levels required to meet their targets for service levels, inventory days of supply, supply chain operating costs. Top down forecasting led to huge demand-supply gaps, high stock levels at plant and warehouses, frequent stock-outs at demand end and over production at plants due to very little visibility into real-time demand. Forecast error rates were high as well.

In addition, short-term demand planning and distribution scheduling involved huge manual efforts.

As a result, the O&G supermajor’s lube businesstook a major hit, impacting top line, bottom line and market share. Theyneeded to build demand sensing capabilitiesfor their lube business to improve forecastaccuracy and supply chain strategy. Wipro stepped in as the “thought-to-finish” partner for the O&G supermajor in this marquee demand sensing transformation program, delivered Proof of Concept (POC)to scale up across geographies and locations. The solution was pilotedin the markets of West Europe and South East Asia.

We deployed a COTS-based demand sensing and multi-enterprise inventory optimization solution that was supported in business case development.

After having gathered business requirements, we engaged industry analysts to map solution provider landscape against the business-validated requirements.Wipro worked with the O&G supermajor’s business and IT teams to develop and approve the business case.

In the execution phase, we supported procurement with negotiating, contracting and supplier onboarding. We managed through the entire project life cycle from requirement analysis, design, build, test, deploy and rollout of the demand sensing solution, worked continuously with key stakeholders to define to-be processes, solution architecture, service model and benefits realization methodology.

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How Can Demand Planning Software Boost Business Efficiency?

Thousense Lite 2023-07-25

Here are some key features commonly found in demand planning software:Forecasting algorithmsDemand planning software utilizes advanced forecasting algorithms to analyze historical sales data and other relevant factors, such as promotions, seasonality, and market trends. By utilizing advanced optimization algorithms, businesses can determine the optimal inventory levels that minimize costs while ensuring adequate stock availability. Scenario planning and analysisDemand planning software allows businesses to perform scenario planning and analysis to evaluate the impact of different variables on demand forecasting and inventory planning. How Demand Planning Software Improves Business EfficiencyDemand planning software plays a crucial role in improving business efficiency by streamlining demand forecasting, inventory management, and supply chain optimization processes. Here are some key ways in which demand planning software enhances business efficiency:Accurate demand forecastingDemand planning software leverages advanced algorithms and data analytics to generate accurate demand forecasts. By utilizing advanced optimization algorithms, businesses can determine the optimal inventory levels that minimize costs while ensuring adequate stock availability.

Inventory Optimization Solutions | Supply Chain Planning Solutions - Wipro

Harryjake 2021-08-19

Leverage Wipro's inventory optimization and supply chain planning solutions to gain real-time inventory visibility, take shelf-life planning decisions through dashboards

Evolving Strategies In Gas Turbine Maintenance And Repair: Navigating Challenges For Reliable Power Generation

Pratik 2024-03-20

With demand for electricity rising continuously, gas turbines are crucial for power plants to meet increasing energy needs reliably and efficiently. However, as integral components, gas turbines also require regular maintenance, repair, and overhaul (MRO) to sustain high performance over long operational periods. Planned vs Unplanned MROPower plants schedule planned Gas Turbine MRO In The Power Sector to remove gas turbines from service during off-peak demand windows. Overall, digital solutions improve planning, quality, safety, and efficiency of gas turbine MRO processes industry-wide. Get more insights on Gas Turbine MRO In The Power Sector

Inventory Optimization Tools for Small Business Owners

Shivit Technologies 2024-02-03

Let's explore how these digital solutions can transform your inventory handling and propel your business forward. Must-Have FeaturesExplore the essential features of top inventory management software. See how they conquered inventory challenges and achieved efficiency with software solutions. Conclusion:With inventory management software at your fingertips, efficiency is within reach. Say hello to streamlined operations and bid farewell to chaos as you navigate India's dynamic business landscape with confidence.

Unlocking Inventory Optimization: 4 Data Science Tips for Retailers

Pitangent Analytics & Technology Solutions Pvt. Ltd 2023-08-07

This is where data science solutions come into play. Within the following sections of the article, we will delve into four indispensable data science tips that possess the capability to revolutionize inventory management and demand forecasting for retailers. Embrace Advanced Analytics Data science solutions offer retailers the ability to leverage advanced analytics techniques. Summing UpData science is the key to unlocking efficient demand forecasting and inventory optimization in the retail industry. As a leading provider of a data science solution, Australia PiTangent offers retailers the tools they need to excel in demand forecasting and inventory optimization.

How can SAP IBP Inventory Optimization Help my Business?

Scplan Consulting 2022-01-27

It is an integrated solution that enables seamless sales inventory and operations planning. It is essential for supply planning and organization. If your business needs support for SAP planning and its implementation, get in touch with SCPLAN Consulting. Learn more about the services. Call us at: +49 6181-991 2488

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Free Up Working Capital & Improve Customer Service Levels with Inventory Optimization

Innovapptive Inc 2020-03-23

To free up cash, companies look at inventory optimization solutions.

Optimizing inventory is critical to success for companies of all sizes.Inventory optimization and working capital are priorities in the mining industry.

During times of economic downturn, like recently, the mining industry supply chain is more a warehouse of spare parts due to all that they have on hand for maintenance and repair for remote locations.Efficient inventory management is critical for a company’s success.

Manual processes significantly increase data entry mistakes resulting in substandard inventory levels and dissatisfied customers.

Implementing a fully automated ERP system with accurate inventory management capabilities is the best answer for the companies reliant on manual processes.Inventory takes an enormous amount of initial cash to achieve optimal supply/demand levels.

At the same time, accurately predicting customer demand is no easy task.

How Hospital Inventory Control System Can Help Make Smarter Decisions

INSYSIV 2023-04-29

This article delves into the ways in which hospital inventory control systems can assist in making informed decisions. The objective of this article is to look at how this system can help healthcare organizations make better inventory selections. What is a Hospital Inventory Control System? A hospital inventory control system (HICS) is a software platform that monitors inventory levels, usage patterns, and costs throughout a healthcare organization. How a Hospital Inventory Control System Can Help You Make Smarter DecisionsImplementing a hospital inventory control system can help healthcare organizations make smarter decisions in several ways:Accurate Inventory Tracking: One of the most important benefits of a healthcare facility's inventory management system is that it delivers real-time inventory tracking purposes.

Medical Inventory Market Sales Volume 2022, Global Industry and Regional Forecasts to 2027

Pravin Dudhal 2022-06-22

It further delivers a brief overview of the Global Medical Inventory Market with the help of all-inclusive segmentation that illustrates essential insightful details related to the certain industry. The global Medical Inventory market report contains a comprehensive overview of the latest industry events and industrial happenings including mergers of large-scale vendors, acquisition programs, vital collaborations performed by several industry-level entities for scaling up the overall performance as well as potential strength of the global Medical Inventory market. Get Sample Copy of Medical Inventory Market Report 2022: https://extrapolate. They have also illustrated topmost companies that are operated in the Medical Inventory market globally with respect to production, sales, distribution channels, manufacturing details of the product. The world Medical Inventory market report covers the business-oriented ways and revenue generation advantages throughout the anticipated timeline.

Maximizing Efficiency: The Power of Inventory Control Systems

ACS Advatix 2024-05-01

With the rise of B2B and D2C sales channels, the need for robust inventory control systems has never been greater. In this blog post, we'll explore the importance of B2B inventory management, D2C inventory management, and the role of inventory control systems in optimizing operations. A robust D2C inventory management system enables brands to centralize inventory data, optimize inventory allocation, and implement demand-driven replenishment strategies to meet the needs of their direct customers. By implementing an inventory control system, businesses can improve inventory accuracy, reduce stockouts and overstock situations, optimize warehouse operations, and ultimately enhance customer satisfaction. By leveraging advanced inventory control systems tailored to their specific needs, businesses can optimize inventory management processes, improve operational efficiency, and drive business growth.

Unified Demand and Supply Planning for Inventory Optimization – The Telecom Imperative - Wipro

harry 2022-02-21

Wipro recently put together a novel concept of ‘Buy Anywhere, Activate Anywhere’ for a large $60 Billion Telecom Giant in the US, knitting together a vast array of Telecom Operations using Oracle Supply Chain Planning, namely Store Distribution Planning, Procurement Planning and Customer Inventory Planning. ‘Buffer Stock’ for replenishment was a key element of the planning, which was driven by how the distribution chains performed. The program was an end-to-end Business transformation moving into Application Implementation. Establishing a concept of ‘Centralized’ planning, bringing in a rigor of making a small group of Master Planners responsible for the entire network were some of the ‘Change Management’ issues which were taken onboard.

What is Inventory Valuation | Inventory Valuation Methods

Force Intellect ERP Software Company 2020-11-11

Inventory Valuation is the monetary value or financial worth of your closing inventory.

There are 3 popular Inventory Valuation Methods: First in First Out (FIFO), Last In First Out (LIFO) & Weighted Average Cost (WAC).

Choose an inventory valuation method that suits your organization’s financial goals.https://www.forceintellect.com/2020/11/06/inventory-valuation-methods/

How to enable advanced inventory in QuickBooks Enterprise?

amelia smith 2023-09-27

Enabling Advanced Inventory in QuickBooks Enterprise is mandatory, requiring a step-by-step process. If you are also looking for the process to enable Enhanced Inventory then here is the complete guide for you. In this blog, we'll talk more in-depth about how to enable QuickBooks Enhanced Business Repository. Below is the list of features: · Scan mobile inventory barcodes· Multi-location inventory· Customizable inventory reports· Tracking bin location · Prepare inventory in real time· Read barcodes· Use the FIFO pricing method· Serial number or batch number· Transfer inventory from one location to another How do I enable enhanced inventory in QuickBooks for Business? If the Enhanced Inventory option appears grayed out, the user has purchased this feature and needs to synchronize user license data to allow QuickBooks to reorganize it.

Importance of Inventory Management System

zahra casey 2020-04-06

A well-designed and developed inventory management system will ensure optimum inventory management.Optimum Operating CostsInventory management involves significant costs.

This will result in better customer service and higher levels of customer satisfaction.Prevent Losses in InventoryOverstocking can lead to unnecessary usage of space in warehouses or stores.

This leads to higher efficiency, reduced costs and better profitability.Features of Inventory Management SystemsThe main functions that an inventory management application are -Order ManagementThe system will allow you to plan and track all orders across multiple sales channels in a centralized manner.

You can scan barcodes of items and update stock levels automatically when you create an invoice, sales or purchase order.

Be on top of your inventory information as the system will be able to track every stock item throughout its lifecycle.

The system will maintain traceability across your inventory.Reporting and AnalyticsThe software will help you improve inventory management by generating inventory reports.

Car photography: Car photography composite walkthrough

image pixelator 2021-07-21

So today, we're going to be going through a composite we're going to be using photoshop. And I'm basically going to be going through the photoshop file. And walk you through Car photography ugh step by step how I went from this to this. So going through the rest of them, I knew I wanted this to be kind of a smoky, very atmospheric-looking image. I found that to be a little bit too fake looking for this I wanted a much softer smoke. And actually switched it to dies solve.

The Essential Guide to ERP for Retail Inventory Management

SAP STTL 2024-02-27

Say goodbye to stockouts, overstocking, and unhappy customers - choose ERP Inventory Management today and take control of your inventory like never before! Some of the key advantages of this system include:Reduced costs: By implementing ERP inventory management, businesses can lower their overall inventory carrying costs, avoid stockouts, and minimize shrinkage. Improved efficiency: ERP inventory management automates tasks, streamlines processes, and frees up valuable time for strategic activities. Enhanced decision-making: With ERP inventory management, businesses can gain data-driven insights to optimize pricing, promotions, and product selections. Better control:ERP inventory management provides centralized visibility into inventory across all locations and channels.

ABC Inventory Management: Definition, Pros & Cons

Navata Road Transport 2023-10-30

This technique helps businesses prioritize their inventory management efforts, allocate resources efficiently, and optimize their supply chain operations. Here's an overview of ABC inventory management, along with its pros and cons:Definition:1. High-value items (Category A) receive greater attention, while low-value items (Category C) require less focus. Potential Neglect of Category C Items: Overemphasizing Categories A and B might lead to insufficient attention to Category C items, which can still have an impact on the business. In summary, ABC inventory management is a useful tool for optimizing inventory control and resource allocation, but it should be used in conjunction with other methods to ensure a comprehensive and dynamic approach to inventory management that considers the unique needs of the business.

Essential Tips for Effective Inventory Management

Upbooks 2022-07-13

Anticipation inventory, or excess products purchased in anticipation of a salesDecoupling inventory refers to parts, supplies, or products set aside in anticipation of a production slowdown or halt. Prioritize inventory management for the remaining 20% of items. Understanding not only your sales totals but also the bigger picture of how items sell is critical to keeping your inventory under control. Invest in inventory management software. All of these tasks are made easier by good inventory management software.

Maximizing Efficiency: Inventory Management Consulting Services

keeppayroll 2023-04-26

One of the most effective ways to improve your inventory management is to hire an inventory management consulting service. The Benefits of Inventory Management Consulting ServicesThere are many benefits to hiring an inventory management consulting service. How to Choose the Right Inventory Management Consulting ServiceWhen choosing an inventory management consulting service, there are several factors to consider. Tips for Working with an Inventory Management Consulting ServiceTo get the most out of your inventory management consulting service, keep these tips in mind:Be Open to ChangeImproving your inventory management processes may require changes to your current practices. By hiring an inventory management consulting service, you can improve your inventory management processes, reduce costs, and increase efficiency.

Inventory Management Software for 2024

Sourabh kumar 2023-12-12

Discover the Future of Efficient Business Operations with Cutting-Edge Inventory Management Software for 2024. Our Inventory Management Software for 2024 is the key to unlocking seamless control over your inventory, empowering businesses to optimize processes and maximize profitability. A free trial helps understand whether the software matches the business requirements. Asset InfinityAsset Infinity streamlines inventory and helps set re-order levels for each item. The software lets you add, move, or draw inventory from one place to another and see all transactions in a single place.