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SOPaaS

Smart Ordering Plan as a Service

Total Cost €

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EC-Contrib. €

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Partnership

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 SOPaaS project word cloud

Explore the words cloud of the SOPaaS project. It provides you a very rough idea of what is the project "SOPaaS" about.

clients    plan    answers    purchasing    theoretical    bad    space    area    impose    thanks    ignore    raw    summary    myriad    storage    op    grey    time    world    unlocks    causes    material    euros    simplifying    millions    scm    frequent    willingness    savings    sometimes    chain    lays    solution    proposition    amounts    right    minimises    sustainability    algorithms    sopaas    quantity    inventory    optimisations    operations    quality    guarantees    suppliers    certain    longstanding    10    trade    optimally    quantities    learning    fair    stage    discounts    pay    minimal    considering    genlots    knowing    eco    saas    times    elaboration    industrial    service    solutions    untapped    limited    shelf    upfront    saved    shipments    responsibility    software    supply    capturing    forces    partial    planning    solves    amortisation    translates    lots    fees    obtaining    reduces    considerations    machine    prefer    dimensions    proprietary    question    life    total   

Project "SOPaaS" data sheet

The following table provides information about the project.

Coordinator
GENLOTS SA 

Organization address
address: GRAND RUE 5
city: CHEXBRES
postcode: 1071
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Switzerland [CH]
 Project website https://www.genlots.com/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2018
 Duration (year-month-day) from 2018-06-01   to  2018-09-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    GENLOTS SA CH (CHEXBRES) coordinator 50˙000.00

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.

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The information about "SOPAAS" are provided by the European Opendata Portal: CORDIS opendata.

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