EP 117 - Inventory optimization in minutes!

We are finding that a lot of supply chain software takes a lot of time for on boarding and our guest today is here to tell us about their solution that can be implemented in days! Thats right Chris from Right Sized inventory is here to tell us all about how they make that happen and what they are doing for warehouses everywhere, Chris is the Vice President of Right Sized Inventory, an optimization software that helps companies eliminate inventory imbalances through real life simulations. By gathering the correct data all in one place, RSI helps companies get started with predictive analytics and supply chain optimization. With safety stock being questioned these days because of Covid and organizations are looking at different solutions to help diversify their inventory such as just in case instead of just in time, Chris tells us how his clients are using the data RSI provides them with differently, and they are seeing requests they have never seen before. The unique selling point with RSI is that they help companies manage their inventory more efficiently at an affordable price. How? They use their own patented technology that gathers and synthesizes data in a couple of hours. By using their software, clients are able to manage their inventory surplus and excess, helping them save them millions of dollars as well as improve customer service levels. Since RSI is affordable and based on tech, they are able to work with companies of all sizes. Using one real life example, Chris explains how they decreased a client's inventory levels by 20% and helped them save over 6 million dollars. With the Covid-19 pandemic, they are still able to help businesses prepare for when demand increases and any other what-if scenarios. For the future, RSI is focusing on growing their organic approach, partnering up with consulting firms and embedding their patented technology into their systems. In this episode we discuss: [0.40] The story behind RSI [5.30] Data and real life simulation [14.53 manage your inventory [19.12] decrease inventory levels by 20% [24.20] The future is collaboration Resources and links mentioned: Right Sized Inventory