RELEX Optimizer

In order for automatic ordering and quantitative forecasting to provide good results, the parameters controlling their operation need to be accurately set. Since demand for a specific product may vary between different inventory locations or customers, control parameters should ideally be managed on a product and location level. Demand may also change over time, which means that control parameters should be regularly updated. However, when the number of products and locations is high, manual administration of control parameters becomes extremely arduous.

RELEX Optimizer is an optimization module that can be linked to RELEX Processor or RELEX Forecaster. RELEX Optimizer identifies and updates the most accurate control parameters automatically for each product and location.

Using the RELEX Optimizer module

When connected to the RELEX Processor system, the RELEX Optimizer module identifies and updates the most efficient inventory control parameters for each product and inventory location. The system suggests the most efficient safety stock parameters based on service level targets set by the user. In addition, the optimization module can be used to determine economical batch sizes and delivery options.

When connected to the RELEX Forecaster system, the RELEX Optimizer module identifies and updates the forecasting models and parameters that provide the most accurate forecast for each individual product and customer (or country, region, customer group, or customer chain).