Developed a comprehensive analytical solution to identify underperforming inventory and enabled corrective actions

The approach broadly comprised a 2-step solution that blends the nature of the product i.e. standard/customized and optimal storage time.

Devising Rules

• We analysed past sales data to classify products as high, medium and low selling and used product class to create rules to classify inventory into the underperforming category.
• Segregated underperformers further into Slow and Non-Movers and proposed category and product class-based actions to treat the underperformers.
• Created rules to tag and quantify an inventory to Excess, Permissible or Shortage range based on multiple metrics like product class and category.
• Created an Opportunity Cost model to help the client realize the leakage in revenue because of the current Inventory Management process in place.

Developing Framework

• We created Tableau dashboards that
  • Helped user to track all basic metrics across warehouses
  • Enabled user to realize inventory across the underperforming category
  • Enabled user to identify under and over stocked overstocked inventory
• We also used Smartsheets as a project Management tool. These sheets held the list of all the underperforming products with relevant information for the user to take necessary actions.
• Connected Smartsheets to Tableau to reflect the actions taken in real-time and created a one stop solution for users
• Enabled the smart sheet and eventually dashboards to track any kind of business exceptions while identifying underperformers.