Projected Inventory Storage Needs with PreciseSpace Forecaster
ScottMadden assists organizations with inventory management and optimization. Contact us to discover how we can assist you in visualizing your current and future storage needs.
At a Glance
Strategic Planning
- Improves operational efficiency through strategic planning for storage space
Identifies Constraints
- Improves space management by identifying constraints and available storage assets
Improves Costs
- Supports cost-effective decision-making through the early identification of longer-term storage requirements
Challenge
A leading owner, developer, and operator of critical infrastructure faced significant overcrowding in their inventory storage facilities due to rapid system growth and supply chain disruptions. To effectively address these challenges, the company recognized the need to assess its existing storage assets and future requirements. The primary goals of the assessment were to identify opportunities for near-term space utilization and develop facility expansion plans to meet projected needs.
Process
- Conducted an in-depth assessment of facility storage methods and configurations, including measurements of each storage location and space utilization
- Collaborated with the company’s subject matter experts to develop possible inventory management optimization scenarios and associated long-range inventory needs
- Configured the PreciseSpace Forecaster tool to analyze storage utilization and forecast long-term inventory capacity requirements
- Identified inefficiencies in space management and planning configurations through PreciseSpace Forecaster’s analytical capabilities
- Engaged the executive team in review sessions to validate the analysis and refine the recommendations
Result
- Identified opportunities for immediate relief of overcrowded facilities
- Addressed inefficiencies in space management to make better use of the existing space
- Facilitated strategic planning for near- and long-term inventory storage needs
- Optimized space management for each major storage type
- Enabled cost-effective decision-making by predicting future storage requirements under various operating conditions (e.g., further lead time deterioration)
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Let’s Work Together
We don’t solve problems with canned methodologies; we help you solve the right problem in the right way. Our experience ensures that the solution works for you.