Latest
industry research report on: Global Multi Echelon Inventory
Optimization (MEIO) Market | Industry Size, Share, Research,
Reviews, Analysis, Strategies, Demand, Growth, Segmentation,
Parameters, Forecasts
Inventory optimization is the
balancing of investments in stock-keeping units and service goals,
while taking into account the volatilities of demand and supply. One
of the major challenges a company faces is matching its supply to
consumers’ demand. How efficiently a company addresses this
challenge directly impacts the company’s profitability. Working
capital being of utmost importance for any company, it is important
for companies to keep low levels of stock and sell them quickly.
Supply chains today have multiple layers of suppliers and
distributors. With each layer adding some safety stock considering
service requirements, a significant amount of working capital is
involved. Multi echelon inventory optimization approach involves
taking a holistic approach toward the entire supply chain and
considering the impact inventories have at any given level in the
supply chain. It answers where in the supply chain inventories should
be placed and optimizing and updating buffer stock at all levels. By
effectively modeling the entire supply chain from raw materials to
manufacturing and finished goods, multi echelon inventory
optimization creates what-if scenarios and explores alternate
suppliers, transport links, lead times as well as locations. Levels
of safety stocks and postponement strategies having lower cost
implications are also verified in the process.
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Multi
echelon inventory optimization boosts the capability of supply chain
teams in achieving service goals with minimum levels of inventory.
With problems such as stock outs and obsolescence also taken care of,
bottom lines of companies are significantly improved irrespective
whether the supply chain is local or global. The biggest driver for
multi echelon inventory optimization market is the financial losses
that companies can avoid using these techniques. The complexities
that multi-level supply chains present and the need to efficiently
allocate resources and increase profitability is further likely to
fuel the growth of multi echelon inventory optimization market.
Investments in inventory being largest liquid asset for any
organization, taking advantage of any technique that can lower
inventory investments while maintaining and ultimately improving
service levels are significantly aiding profitability to the
organization. However, reducing the inventory should in no way affect
customer service levels. Multi echelon approach addresses this
concern by keeping more stock at the outer nodes so that the customer
service level is not affected, while reducing overall level of
inventory. However, for this strategy to effectively work, companies
should be able to forecast customer demands. Inventory optimization
process is dynamic, which requires frequent evaluation. Companies
need to review their network frequently and change policies
accordingly. Lack of skilled resources who can understand and use
inventory optimization techniques effectively are hurdles in adoption
of multi echelon inventory optimization technologies.
The
multi echelon inventory optimization market can be broadly segmented
into types of solutions and industries. The solutions include
replenishment, vendor managed inventory, demand forecasting, purchase
order flow management, supply chain advanced analytics, value chain
collaboration, supply and retail optimization, transportation and
logistics optimization and cloud services. On the basis of
industries, the market can be categorized into consumer goods,
electronics, food and beverages, chemical, retail, and manufacturing.
Geographically, North America has a large market for multi echelon
inventory optimization due to the large manufacturing sector and the
penetration this technology has achieved in manufacturing and
processes. With high growth in manufacturing industries in countries
such as China, South Korea, India, Vietnam, and Indonesia, there is
expected to be high demand for multi echelon inventory optimization
solutions and services in Asia Pacific during the coming years.
The
major companies operating in this market include ToolsGroup, Logic
Tools Inc., Logility, Manhattan Associates, Inc., Smart Software,
Inc., Arkieva, Kinaxis, Thrive Technologies and Planning Edge
Corporation.
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The report offers a
comprehensive evaluation of the market. It does so via in-depth
insights, understanding market evolution by tracking historical
developments, and analyzing the present scenario and future
projections based on optimistic and likely scenarios. Each research
report serves as a repository of analysis and information for every
facet of the market, including but not limited to: Regional markets,
technology developments, types, applications, and the competitive
landscape.
The study is a source of
reliable data on:
Key market segments and
sub-segments
Evolving market trends and
dynamics
Changing supply and demand
scenarios
Quantifying market
opportunities through market sizing and market forecasting
Tracking current
trends/opportunities/challenges
Competitive insights
Opportunity mapping in
terms of technological breakthroughs
The regional analysis
covers:
North America (U.S. and
Canada)
Latin America (Mexico,
Brazil, Peru, Chile, and others)
Western Europe (Germany,
U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands,
Luxembourg)
Eastern Europe (Poland,
Russia)
Asia Pacific (China, India,
Japan, ASEAN, Australia and New Zealand)
Middle East and Africa
(GCC, Southern Africa, North Africa)
TMR estimates the market size
of various sectors using a combination of available data on the
number and revenue of companies within each sub-sector and tiers of
companies. The basic components used to determine market size and
forecast for a specific product area are not only limited to
supply-side data, but are also related to demand, industry trends,
and the economic outlook. All the above data points are utilized to
generate a statistical model targeting the sector marketplace. More
than 300 TMR analysts across the world integrate these elements into
a framework to determine the subsector market size for a base year
and then forecast growth within each market.
TMR regularly interviews
technology and business professionals as an ongoing effort to track
the latest developments within each sector. These continuous surveys
are stratified by company size and industry segment and weighted to
reflect the global market place. All data are collected on an
ongoing effort through a structured questionnaire rolled over the web
or conducted via telephones. This provides the TMR team opportunities
to request for detailed question sets, complex skip patterns, and
real-time calculations, which assists respondents in answering
questions involving numbers and percentages. Respondents, who are
interviewed as experts, are screened and qualified based on certain
criteria in addition to their decision-making authority and the scope
of activity within their organizations.
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