This Tableau Accelerator allows you to optimize the Stock Coverage of the items you hold in your inventory (based on recommendations suggested by an ABC-XYZ analysis).
The ABC-XYZ analysis classifies your products and then recommends how to handle:
- Degree of automation replenishment processes
- Buffer Stock
- Inventory Control
Products are classified by:
- Consumption Volume
- A: High consumption volume
- B: Medium consumption volume
- C: Low consumption volume
- Consumption Volume Volatility: if past consumption is stable (= not volatile), we can make a reliable estimate of future demand
- X: Stable consumption / Linear demand
- Y: Volatile consumption / Variable demand
- Z: Very Volatile consumption / Unpredictable demand
Each combination (AX, BX, CY..) implies a suggested way to manage inventory:
- Identify products at risk (rupture and overstock)
- Define the right stock / security stock coverage
- Optimize production/purchasing volumes
Answer key business questions
- How are my products classified according to ABC/XYZ approach?
- What are the best inventory actions for my products?
- Which buffer stock to hedge against customer-induced variations?
- How many products do I have with a reliable forecast?
- Which products do I have with a high consumption value?
- Date (date): Date
- Product (string): Inventory item
- Volume (numeric): Sales / Demand / Consumption Volume (amount)