The aim of inventory management is to provide the right inventory, in the right quantities and at the right locations, to meet the supply and demand materials in the enterprise. It is essential to maintain an optimum inventory level based on expected sales velocity. With millions of SKUs to handle at multiple warehouses, it is manually difficult to determine the optimum levels at an SKU level.
Using big data analytics, it is possible to crunch a huge volume of data to recommend optimal inventory levels and suggest inter-store transfer quantities based on certain input rules. The data sources to be used might include Sales Summary Data, Material Master, Store Master, POS Data, Stock Ageing Report, etc.