IDMS

IDMS AI is a cloud-based inventory app designed by Joulon Envision, IDMS utilizes advanced artificial intelligence (AI) techniques combined with complex multivariate analysis algorithms to diagnose, analyze and optimize current inventory levels and future procurement.

The deployment of this solution begins with the ingestion and enrichment of inventory and its associated transaction data into the IDMS model for analysis.

Here's are the features of IDMS - Inventory Diagnostic & Management System

Key Capabilities

- Smarter Analytics reports for greater visibility and insight across operations

- cloud/big data technologies to aggregate massive amounts of data

- Scalable solution that supports small & large enterprises

- Interactive visualizations and actionable insight

- Advance AI for Demand & Stock Optimization

& more...

Key features

Stock Optimization Simulation Engine

This feature contains proprietary methods that further allow users to define and test new min-max levels for their inventory items based on their historic consumption to predict stockouts or overstocks under new min-max settings. The trial min-max level by item output of this analysis allows end-users to set and optimize min-max levels for items being consumed from their inventory in the future.

Catalog Cleanup

This feature is developed to curtail and cure the proliferation of SKUs within the Inventory Management Systems of our Customers. The algorithms in this feature adopt concepts of natural language processing and web mining to find different SKUs referring to the same/similar item and assimilate into one. The algorithm shall highlight the SKUs which need to be classed “DO NOT USE” on account of being poorly defined and suggest alternate SKUs.

Inventory Classification

Inventory Classification allows users to classify items according to volume, value, and movability. IDMS AI provides a recommendation framework for an inventory that segments various item profiles with different statistical techniques based on its characteristics.

Critical Inventory Optimization

IDMS engine reveals opportunities to cut inventory by analyzing inventory performance holistically. Which includes multiple functions for specific scenarios (i.e. for when the demand is deterministic and for when it is stochastic) that provide relevant information to analyze the inventory. For determining the Optimal Inventory level, the solutions that IDMS provides are a learning model that provides quite stable results in any kind of non-noisy or volatile data.

Demand Forecasting

Demand Forecasting lets users overcome the difficulty in forecasting intermittent and variable demand that characterizes MRO environments. Leverage algorithms to improve forecasting accuracy and stocking level recommendations; enhance service levels; and reduce costs. This feature has the capability to use knowledge of expected future events or trends to apply demand profiles to future forecasts.

Inter Inventory Transfer

These algorithms in this feature are designed to accommodate both methodologies for internal transfer of

stock between operating rigs.

“push” – transfer of overstock items shared amongst rigs which use similar items, and

“pull” - fulfillment of demand (requisitions) from within fleet (internal sales)

More on IDMS

Web URL: https://www.jouon.com/envision/