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01_​04_​Supply_​Chain_​Inventory_​Management_​KPIs

The below workflow can be used for Inventory management. It categorizes the inventory based on the ABC model on the basis of values and calculates the Safety stock, Reorder point andEconomic Order Quantity[EOQ] for the provided dataset. It can be used to calculate safety stock on the basis of a service level specified by the user.The input dataset for this workflow is the demand data which consists of the following variables:*Order date *Name of SKU *Consumption[refers to Quantity ordered] *Unit cost *Order fulfillment data The workflow first calculates Lead time from the date difference between order date and order fulfillment date and the total value of each order is also calculated by multiplying the unit cost againstthe consumption quantity.Categorization based on ABC model- Pivoted the dataset based on SKU’s, arranged them in terms of their aggregate order value and categorized inventory using the following ruleCategory A- Items contributing to 80% of the total valueCategory B- Items contributing to the next 15% of total valueCategory C- Items contributing to the last 5% of total value Safety Stock, Reorder point and EOQ- Calculated safety stock giving the user an option to choose the service level by changing the probability value in the “Probability Point Function” node as pertheir requirement. The default value in the workflow is 0.9 or 90%. These safety stock values are then used to calculate the Reorder Point and then the Economic Order Quantity is calculated. Lead Time = Order Fulfilment Date - Order DateTotal Value of each orderAggregration on each item ID;- Sum of Total Value- Sum & SD of Consumption- Mean of Lead Time- Max. & Min. of Order DateValue based sorting of itemsCummulative value of itemsABC categorizationDemand Data DurationAvg Daily DemandSafety StockReorder PointEOQSet up Cost & Holding Cost - Set up Cost : 5 INR- Holding Cost : 10 INRContribution % of Items Excel Reader Date&TimeDifference Math Formula Pivoting Sorter Moving Aggregation Rule Engine Date&TimeDifference Math Formula Math Formula Math Formula Math Formula Cost Math Formula ProbabilityPoint Function The below workflow can be used for Inventory management. It categorizes the inventory based on the ABC model on the basis of values and calculates the Safety stock, Reorder point andEconomic Order Quantity[EOQ] for the provided dataset. It can be used to calculate safety stock on the basis of a service level specified by the user.The input dataset for this workflow is the demand data which consists of the following variables:*Order date *Name of SKU *Consumption[refers to Quantity ordered] *Unit cost *Order fulfillment data The workflow first calculates Lead time from the date difference between order date and order fulfillment date and the total value of each order is also calculated by multiplying the unit cost againstthe consumption quantity.Categorization based on ABC model- Pivoted the dataset based on SKU’s, arranged them in terms of their aggregate order value and categorized inventory using the following ruleCategory A- Items contributing to 80% of the total valueCategory B- Items contributing to the next 15% of total valueCategory C- Items contributing to the last 5% of total value Safety Stock, Reorder point and EOQ- Calculated safety stock giving the user an option to choose the service level by changing the probability value in the “Probability Point Function” node as pertheir requirement. The default value in the workflow is 0.9 or 90%. These safety stock values are then used to calculate the Reorder Point and then the Economic Order Quantity is calculated. Lead Time = Order Fulfilment Date - Order DateTotal Value of each orderAggregration on each item ID;- Sum of Total Value- Sum & SD of Consumption- Mean of Lead Time- Max. & Min. of Order DateValue based sorting of itemsCummulative value of itemsABC categorizationDemand Data DurationAvg Daily DemandSafety StockReorder PointEOQSet up Cost & Holding Cost - Set up Cost : 5 INR- Holding Cost : 10 INRContribution % of ItemsExcel Reader Date&TimeDifference Math Formula Pivoting Sorter Moving Aggregation Rule Engine Date&TimeDifference Math Formula Math Formula Math Formula Math Formula Cost Math Formula ProbabilityPoint Function

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Created by: abidr
Created at: 2023-03-15
On NodePit since: 2023-08-25
Last update: 2024-12-17
Created with KNIME version: v4.7.1

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