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Procurement & Inventory

AMP - Procurement & Inventory

Chances are you're the type of inventory or procurement leader who needs quick and accurate reporting to effectively control your inventory and procurement processes.

In order to achieve this, you need to transition from the outdated, time-consuming reporting solutions you've inherited, to a more automated, real-time reporting solution that enables the complex data-driven decisions you need to take.

Your challenge?

How to deliver on these reporting goals, given the present resourcing and budgetary constraints you face. This is leaving you frustrated at the time you're wasting with the present solution and the lack of results it delivers.

 

At AIM, we believe every physical asset management leader should possess the necessary tools to facilitate quick and informed business decisions within their organization.

Which is why we created the AIM Asset Management Platform (AMP) for Procurement & Inventory.

Here's how it works

  • STEP 1: We connect AMP to your CMMS/ERP, such as Cogep Guide TI, Maximo, SAP, IFS.

  • STEP 2: We work with you to transition any legacy reports, and then build out state-of-the art reporting using our pre-built templates, customized to the needs of your operation.

  • STEP 3: Finally, we grant access to your teams and give them all the personalized training and coaching they need to deliver a world-class reporting solution.

The whole process, typically takes less than two weeks!!

 

So take the next take by booking your AMP demonstration so you can finally start delivering the next generation reporting solution for your business.

What type of reports does AMP - Procurement & Inventory deliver?

Stock Classification

Classifying inventory by different stock classes is crucial to effectively manage your stock levels. Most warehousing KPIs are dependent on item classification, therefore when AIM develops reports with you we make sure they are filterable by class. If stock classes are not yet implemented in your CMMS, we can help guide you by evaluating elements such as item criticality and consumption. 

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Turn Ratio

An inventory turnover ratio will measure the amount of times stock has been consumed over a given period of time. Target turn ratios are dependent on inventory classification, and should be visualized that way. At AIM, we can help develop dashboards which allow you to track your turn ratio over time and filter it by stock class.

Service Levels

The service level is a measure that identifies stock availability when requested. Similarly to the turnover ratio, the service level is typically dependent on stock classification, and is one of the most important inventory measures as it will indicate whether or not the proper min/max levels are set. At AIM, we can help you identify your service levels over time, by item class and even drill down to individual items.

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Min & Max Optimization

Optimizing Min & Max levels can be an extremely difficult and time consuming task. This is mainly because they depend on many variables such as stock classes, lead times, consumption and requested service levels, which are all difficult to extract from a CMMS. At AIM, we can help you automate this process so you no longer need to spend countless extracting and deciphering this data. All we need is your calculation method of choice, and we take care of the rest. 

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Overstock

Inventory overstock is something most organizations dread. It's tied up money that's not required based on service and min/max levels. It is therefore important to track and manage overstock with hopes to eliminate it all together. At AIM, we can help you develop dashboards to track your overstock value and trend it over time. 

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lead times

The lead time is the amount of time it takes for an inventory item to be delivered to site once requested. There are typically two elements that make up the total lead time; the internal processing time and the shipping time. The former is the time is takes for a PO to be sent to the supplier while the latter is the delivery time for the item to get to site from the supplier. At AIM, we can help you develop reports that will identify total lead times, which will in turn help you optimize your stock levels and identify potential procurement issues.

How is AIM - AMP different to other solutions?

1. Rapid Results:

In a matter of weeks, or even days, you'll have automated reports that allow you to make data-driven business decisions. Other solutions can take months.

2. Customization:

Unlike third party software or built-in reporting within your CMMS/ERP system, AMP allows for infinite customization. This ensures that the reports fit YOUR needs, not common needs.

3. Scalability:

Your asset management counterparts will surely want to join you on your state of the art reporting journey. AMP can be scaled enterprise-wide; Maintenance, Operations, Reliability, Finance.