Performing hierarchical data-driven inventory and warehouse management in manufacturing environments
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United States of America Patent
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Mar 6, 2018
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app pub date -
Sep 2, 2014
filing date -
Sep 2, 2014
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Abstract
A method, data processing system and computer program product for managing inventory used in a manufacturing operation to manufacture a product. The method includes a processor communicating with at least one database containing manufacturing operation data. Several inventory locations and components are identified within the manufacturing operation data. A current component inventory and space data, historical component usage data and a demand forecast are retrieved. A statistical analysis is performed upon the current component inventory and space data, the historical component usage data and the demand forecast to obtain a target inventory level range for each of the components at each of the inventory locations. An inventory level control chart is generated, based on the statistical analysis, for selected components associated with at least one inventory location.
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