SOPaaS

Project "SOPaaS" data sheet

The following table provides information about the project.

 Partnership

Take a look of project's partnership.

Map

 Project objective

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 inventory might go bad after a certain time and forces frequent ordering, storage space might be limited, suppliers might impose minimal order amounts, may be some material has long lead times. In summary, a myriad of real-world considerations that current solutions ignore, achieving only partial optimisations. GenLots’ SOPaaS is a Software-as-a-Service (SaaS) solution that untapped savings in the ordering plan (OP) elaboration stage of Supply Chain Management (SCM) process thanks to our machine learning based algorithms. In short, SOPaaS optimally answers the question: “When do I need to order and how much raw material?” Our proprietary machine-learning algorithms unlocks untapped savings of 5-10% of total purchasing cost on average. This translates in millions of euros saved for our clients, a unique value proposition that guarantees their willingness to pay. SOPaaS solves the theoretical problem of obtaining the ordering plan, while also considering real-world factors in various dimensions, e.g. cost (e.g. lots’ shelf life, associated storage cost), sustainability (e.g. prefer eco-friendly shipments) or responsibility (e.g. fair trade considerations) among others.