Socrate Predictive Inventory Management (PIM) is a highly scalable, cloud-based service that helps businesses generate optimized stock replenishment proposals based on historical data such as supplier orders and customer orders. As a bonus, you can also compare your historical stock replenishment against the optimized stock replenishment proposal to evaluate the benefits.
The Predictive Inventory Management service provides clear and transparent components (trends, seasonality, residuals), and features a dashboard with charts and visual performance indicators linked to your ERP.
Robust yet flexible, the service performs well even with small data sets and limited historical data. It offers great flexibility in terms of seasonality and trend detection. The implementation has significant advantages with respect to tuning and computational resources. For example, you can provide computation parameters such as months of supply lead time history to consider, or the average processing time for reception of supply orders.
The input data (such as customer orders, supplier orders, stocks, receptions, and deliveries) may originate from any system (for example, an ERP), using a language or platform of choice, as long as you have it in CSV format.
Through carefully implemented security practices, the Socrate Predictive Inventory Management service provides a robust way to securely store data in isolation, ensuring that sensitive information is protected and accessible only to authorized people. This service works with fully anonymized data; it processes only identifiers such as product, supplier, and customer IDs.
Access to the Predictive Inventory Management service is available not only programmatically, but also through a Web-driven user interface. Designated tenant-level users can create, modify, and compute replenishment proposals, including for multiple organizations, download the input and output files, and view charts with processing results.
Access to the API or Web UI is driven by permissions, which are flexibly configurable based on the needs of each end user. This includes segregation by role and multi-tenant support where each individual tenant data is stored in isolation.
With the pay-as-you-go model, the final billing amount is based on the actual usage volumes. Detailed metrics and usage counters are available to estimate cost at any point in time.
