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GenLots offers a Software-as-a-Service solution that optimizes order planning in supply chain management using machine learning. This approach helps businesses determine the optimal timing and quantity for orders, potentially saving significant costs.
Knowing how much to order and when is a longstanding industrial problem called order planning.
The 2 main approaches are:1.
Upfront ordering.
Allows capturing quantity discounts and simplifying operations, but causes high inventory costs (e.g. space, amortisation).2.
Just-in-time ordering.
Minimises inventory costs, but requires a higher quality control, increases order fees and reduces discounts on quantities.However, the right solution lays in the grey area in-between.
Sometimes part of the i…
GENLOTS SA
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