Inventory Optimization
Reduce Costs and Maximize Efficiencywith Optimized Inventory Operations
Outcome Driven Solutions specializes in extending ServiceNow's baseline capabilities to enhance inventory operations management:
ServiceNow OOTB Inventory Operations Capabilities
ServiceNow’s real-time inventory tracking provides critical visibility into inventory levels across multiple locations, helping organizations maintain optimal stock levels and prevent stockouts or overstocking. This visibility is a strong foundation for ODS enhancements, such as advanced analytics for predictive demand planning or shrinkage identification to uncover hidden inefficiencies in inventory management.
ServiceNow’s Automated Inventory Processes streamline inventory management by automating reordering, real-time record updates, and cycle count scheduling. The platform generates replenishment orders based on predefined triggers, ensures inventory records are updated automatically during transactions, and schedules cycle counts to maintain accuracy without full physical audits. Proactive alerts notify stakeholders of stock issues, and seamless integration with procurement workflows simplifies approvals and order placements. These capabilities reduce manual effort, minimize errors, and ensure inventory data remains accurate and actionable.
ServiceNow provides a reliable foundation by simplifying all parts-related transactions. Field technicians can quickly access the necessary inventory components, reducing delays and improving operational efficiency. This foundational capability ensures smoother service delivery while creating an opportunity for Outcome Driven Solutions (ODS) to optimize inventory workflows further, such as through enhanced redistribution and dynamic prioritization.
With mobile capabilities, ServiceNow enables teams to manage inventory on the go, perform peer-to-peer part swaps, and utilize barcode scanning to enhance accuracy and efficiency. This mobility empowers frontline users to act quickly and keep inventory operations running smoothly. ODS can build on this foundation by adding advanced capabilities like real-time geolocation tracking and automated inventory alerts to further streamline field operations.
Some added benefits of working with ODS:
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.
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.
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.
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.
Charles S, Director of IT Financials