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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.

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

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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