Logility, Inc., a leader in AI-first supply chain planning solutions, announced dynamic inventory modeling capabilities as a new function of its cloud-based (SaaS) Logility® Digital Supply Chain Platform. Developed to better manage inventory costs, which are the second highest logistics costs after freight, as well as complex inventory-related issues, dynamic inventory modeling features a wealth of inputs not included in classic network optimization models. With this new capability, network optimization can solve for the optimal network configuration while accounting for inventory related costs and storage capacity constraints.
The Logility® Digital Supply Chain Platform leverages artificial intelligence (AI), machine learning (ML) and automation to routinely sense, analyze, and update activity in the digital supply chain, helping to ensure peak operational performance at all times. By considering inventory alongside network decisions, business leaders gain a more holistic view of their supply chain with a more optimized network design that accounts for the impact of inventory flows across the entire supply chain.
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Dynamic inventory modeling provides faster reasonable answers without iterative processing, by creating “curve fit” solutions without compromising accuracy.
“We continue to see growing industry demand for improved cost transparency and overall supply chain inventory optimization. Inventory remains a massive cost area for most supply chain organizations and inventory pricing models are often complex, costly, and inefficient,” said Kevin McInturff, Logility Chief Technology Officer. “We’re meeting the needs of today’s supply chain leaders by providing a more holistic view of their inventory for faster, more informed decision making and network optimization by providing a more comprehensive, cost-effective solution.”
SOURCE: BusinessWire
