Press Release Summary:
Web-based Inventory Analyst(TM) v2.1, for supply chain planning, optimizes inventory positioning, committed service time, and safety stock and identifies which parts and nodes are resulting in highest inventory costs. Product uses inventory optimization techniques that create plans to minimize inventories across multiple echelons. Features include integrated supplier selection, capacity defined across entire facility, inventory drivers, and root cause reports.
Original Press Release:
LogicTools Releases Inventory Analyst 2.1
Inventory planning software enhances LogicTools' supply chain suite Chicago, July 29, 2003 - LogicTools, Inc., the leading solution provider in supply chain planning, has released a new version of its inventory planning solution, Inventory Analyst(tm) 2.1. Inventory Analyst is Web-based software that addresses the challenges of improving bottom-line profits while reducing inventory costs and improving service levels to meet customer demand.
In addition to optimizing inventory positioning, committed service time and safety stock, Inventory Analyst(tm) helps companies understand the factors driving inventory costs as well as identify which parts and nodes are resulting in the highest inventory costs. "...Reducing inventory is not easy since almost every aspect of supply chain operations affects inventory levels in some way," said Larry Lapide of AMR Research in his July 22 report, "Don't Slash Inventory, Make it More Efficient."
Lapide adds that one of the recommended inventory planning approaches includes a new breed of advanced planning system that "...involves using inventory optimization techniques that create plans to minimize inventories across multiple echelons, as well as achieving customer service targets...." Inventory Analyst(tm) represents one of these new breed of advanced planning systems.
Major Features of the new release include:
o Supplier selection built into the model so that users can define potential suppliers and their characteristics such as cost, lead time and reliability, and optimize based on the entire supply chain performance
o Capacity defined across an entire facility, not just per product, allows users to decide where to store inventory based on the facility size
o Inventory drivers and root cause reports provide users with sophisticated analysis to help identify opportunities to improve supply chain performance
o Higher scalability and performance provides users with the ability to simultaneously optimize a large number of products and site combinations
"These advanced features, combined with LogicTools' proven expertise in providing easy to use and high performance global optimization solutions, make Inventory Analyst the most advanced application in its class," said Edith Simchi-Levi, vice president of operations at LogicTools.
Inventory Analyst is part of the LogicTools supply chain planning suite that includes LogicNet. and LogicNet Plus(tm) for network design, and LogicChain. for coordinating production and sourcing with distribution. The solutions are being used by many companies for network design, global sourcing, resource allocation, master production planning and inventory planning. The suite also is used for modeling the transition process from one supply network to a new one. This includes identifying the new network inventory requirements, verifying feasibility of the new network, and creating a transition plan.
LogicTools (logic-tools.com), founded in 1995 by David Simchi-Levi, Professor of engineering systems at MIT, integrates the latest research in optimization and supply chain management with state-of-the-art information technology to provide companies with high quality, easy to use, and affordable software, as well as the methodology and support that helps clients design and maintain efficient supply chains. LogicTools' solutions have revolutionized the market by replacing extremely complex, expensive and customized software implementations on the one hand, and limited spreadsheet analysis on the other. Optimizing the supply chain results in not only significant savings (typically 5 percent to 15 percent) but also provides clarity of vision and better understanding of the various trade-offs.
LogicTools has customers across many industries including, CPG, Food, Retail, 3PL, High-Tech, Process & Discrete Manufacturing, Automotive and Public Sector. Some of LogicTools' customers include Weyerhaeuser, ConAgra, Del Monte, General Motors, William Wrigley, Jr. Co., Kraft Foods, Mercer, Ryder Systems, SC Johnson, TruServ, UPS, United States Postal Service and many others.