OAS & Inventory Optimization

Inventory Optimization – How Many Should We Hold in Stock?

Determining the optimal stock levels for Maintenance Repair and Overhaul (MRO) spares should be a science, not an art. But for most organizations, it represents an impossible numbers game.

Inventory managers are faced with the challenge of managing tens of thousands of items, each with their own characteristics, requiring complex and time-consuming calculations. Without a structured methodology and powerful analytical tools, the proactive management of large inventories becomes an impossible task, resulting in rapidly increasing inventory levels combined with critical shortages of spare parts.

Oniqua Analytics Solution is the world’s leading inventory optimization tool for MRO spares – aligning safety stock with business impact to ensure that you have more of what you need, and less of what you don’t.

Inventory Visibility

Oniqua Analytics Solution allows organizations to combine data from one or more transactional systems, providing inventory visibility across the enterprise.

Inventory analysts can slice and dice inventory data to determine stock holdings of key commodities across the organization. Executives can measure and compare inventory performance across all sites using consistent key performance indicators.

Inventory Segmentation

Managing tens or hundreds of thousands of inventory items requires a methodology that allows inventory policies to be consistently applied.

Oniqua Analytics Solution automatically analyzes each stock item using characteristics such as price, usage, movement, lead time and criticality. Using these profiles, items are automatically placed into control segments from which new recommended reorder levels are calculated and loaded back into the transactional system. Flexible exception rules alert inventory managers to items that need individual review.

Inventory Optimization

Based on published research by the U.S. Air force and UK Coal Board, refined over 15 years of practical experience working with asset-intensive companies, Oniqua’s inventory optimization algorithms are uniquely suited to the complexities of MRO inventories.

Inventory Modeling

Oniqua Analytics Solution allows organizations to use their own economic cost model recognizing: holding, replenishment and stock-out costs to optimize their inventory. In this way, users can model and understand the financial impact of all decisions before they are implemented.