Outcome Driven Solutions

Inventory Optimization

Reduce Costs and Maximize Efficiency
with Optimized Inventory Operations

Inventory optimization is the strategic process of balancing supply and demand to ensure that the right amount of inventory is available to meet customer needs without overstocking or understocking. This involves managing stock levels to minimize costs associated with excess inventory while avoiding the pitfalls of stockouts, thereby maintaining customer satisfaction and operational efficiency.

While there are a lot of ways that ServiceNow can help, these are some of the most popular:

  • Threshold-Based Reordering: Establishing reordering triggers to maintain optimal stock levels and prevent shortages or excess inventory.

  • Asset Lifecycle Tracking: Monitoring assets from acquisition through deployment, maintenance, and disposal to maximize their utilization and value.

  • Centralized Asset Repository: Maintaining a comprehensive database of asset information, including warranties and licenses, to facilitate informed decision-making.

  • Depreciation Tracking: Recording asset depreciation for accurate financial reporting and compliance.

  • Disposal Workflows: Implementing structured processes for the compliant disposal of end-of-life assets.

  • Maintenance Scheduling: Planning and documenting maintenance activities to extend asset lifecycles and prevent unexpected failures.

ServiceNow’s Inventory Management capabilities provide a robust platform for optimizing inventories and lowering carrying costs. Features such as real-time inventory tracking, automated reordering alerts, and mobile access for field technicians enhance productivity and accuracy in inventory operations. By leveraging ServiceNow, organizations can achieve a unified view of their inventory, streamline workflows, and make data-driven decisions to optimize asset utilization.

We recommend ServiceNow for Inventory Optimization because it’s a ‘Platform First’ solution. While there are dedicated solutions that may have another feature or two, those features are overshadowed when integrated into a comprehensive strategy. The benefits of using ServiceNow for Inventory Optimization allow us to track KPIs and deliver a more substantial ROI than other solutions.

Outcome Driven Solutions (ODS) is the ideal partner to help organizations maximize their investment in ServiceNow’s Inventory Optimization. With over 20 years of experience in procurement, logistics, and supply chain management, ODS brings deep industry knowledge and real-world expertise to tailor the platform to your unique business needs. Our proven track record in implementing ServiceNow Source-to-Pay solutions ensures that we can drive efficiency, cost savings, and strategic alignment in your inventory management processes.

Some added benefits of working with ODS:

Reduce carrying costs 10-20%
Inventory Cost Optimization

ODS helps customers achieve Inventory Cost Optimization by extending foundational capabilities with advanced analytics and intelligent automation. We integrate predictive demand planning to anticipate future inventory needs and dynamically adjust reorder points to prevent costly overstocking and shortages. Additionally, ODS identifies dormant or underutilized inventory and enables its redistribution, reducing unnecessary purchases and freeing up capital. By automating inventory workflows and providing actionable insights, organizations can streamline inventory operations, improve cash flow, and drive measurable cost savings.

Reduces management effort by 50%
Dynamic Reordering Systems

Dynamic reordering systems leverage real-time data to adjust inventory levels based on actual demand, ensuring the right items are available when needed. This prevents shortages that disrupt operations and excess stock that ties up resources. By building on this foundation, ODS can implement advanced predictive analytics and automated prioritization to anticipate future needs, further reducing costs and optimizing inventory performance.

Eliminate shrinkage and obsolescence
by up to 20%
Final Destination Verification

Final destination verification ensures inventory items are delivered accurately to their intended locations, enhancing accountability and minimizing discrepancies. This foundational capability reduces errors and lost inventory, improving operational reliability. ODS can extend this with real-time location tracking, proactive exception handling, and verification audits, creating a seamless and error-free inventory delivery process.

Improves asset utilization
by 5-20%
Internal Asset Redistribution

Internal asset redistribution identifies underutilized inventory and reallocates it to areas where it delivers the most value. This reduces waste and maximizes the use of existing resources. ODS enhances this capability by adding intelligent redistribution workflows and real-time visibility into dormant inventory, enabling faster, data-driven decisions that reduce unnecessary purchases.

Other ODS Solutions

“ODS transformed our processes.

Our holding costs dropped by 13% and we significantly improved our cash flow."

Charles S, Director of IT Financials

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TESTIMONIALS

What Clients Say About Us

  • 200% Return on Investment
Disconnected visibility prevented us from taking advantage of volume purchase opportunities. Our team was also wasting 20% of their time on unfunded requests. On top of that, we were paying maintenance on expired infrastructure. We identified savings in the first 12 months that provided us with over 200% Return on Investment!
  • Reduced Efforts by 80%
We no longer blindly overspend our budgets because we have current information at our fingertips; we know what was approved, what has been committed, and our actual spend. After having the solution in place, our tracking efforts have been reduced by over 80%. In total, we've recovered the equivalent of 3 FTEs.
  • Doubled Team Productivity
We have a self-service portal so our consumers can view current status on-demand and make requests with real-time updates.
The level of trust between IT and the rest of the University increased overnight. Doubling the productivity of our teams while making our consumers happier made this a no-brainer.

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