Gain enhanced traceability of inventory

Overview

The Infosys Industrial Manufacturing practice adopts a data-first approach to inventory management. Our suite of Artificial Intelligence (AI)-powered predictive models and forecasting tools drive order fulfillment as well as pricing through real-time visibility into costs and demand for subassemblies, spare parts, process resources, consumables, and indirect materials. Superior inventory management maximizes margins by accurately accounting for all overheads including freight, taxes and duties, and carrying cost.

Our Warehouse Management System (WMS) incorporates wireless technology and automation to manage operations using AI-enabled hand-held devices. We align the product lifecycle with WMS and bill of materials, which ensures better inventory control, and unified scheduling and distribution across manufacturing facilities. The integrated system automates instantaneous update of accounting and financial applications.

Infosys blends advanced technologies for a ‘single version’ of inventory and traceability of built-to-order products – from raw materials through production and shipment of finished goods. Industrial manufacturing enterprises having the ability to track inventory based on serial number of parts, batch number of a product, bin location, and / or product groups are better positioned for prompt reporting and statutory compliance. Our blockchain network allows paperless transaction processing across procurement and payment. Moreover, blockchain technology eliminates errors in multi-currency purchase / invoicing and validates information in real time, while accelerating processing.

Our team leverages AI models to determine minimum and maximum inventory levels for stock keeping units, and implements an automated reordering system based on diverse criteria such as lead time and long-term price trends. Optimal stocking across inventory categories enables industrial manufacturing enterprises to increase revenue from warranty plans while rationalizing the cost of warranty management. Significantly, our data analytics solutions for decoding inventory based on age, turnover, cost, supplier performance, and operational risks help sourcing and procurement professionals make informed business decisions.