FIC Inc. (Forecasting and Inventory Consultants, Inc.)
develops forecasting and inventory replenishment software and
associated routines for use in supply chain management. Our
product, FIRM (Forecasting and Inventory Replenishment
Management), consists of Forecast-Replenish, the
fundamental system, and ten optional routines that require the
output from Forecast-Replenish.
Is Your Inventory System Optimized?
A small increase in forecast accuracy can substantially cut costs and increase service levels.
An FIC white paper shows that a decrease of 10% in the forecast error leads to a
reduction of 12 - 25% in safety stock.
FIRM is Powerful
FIRM's statistically precise forecasts and replenishment routines enable each link in the supply
chain network to:
- maximize service levels,
- minimize inventory investment,
- buy at minimal prices and
- increase sales.
FIRM reduces inventory and increases profit
The Forecast-Replenish routine uses sound statistical techniques to generate forecasts that
yield minimum forecast errors. In many inventory operations, safety stock represents a large
portion of the total inventory – 50% is common; thus a reduction in safety stock will
significantly reduce the total inventory and this leads to lower inventory costs and higher profits.
Quantify these benefits immediately. One of FIRM's many built-in reports
compares the service level and inventory investment of today with the projected service level
and inventory investment 12 months from today. In most cases FIRM will not only reduce
inventory but will also improve service level by correcting any mal-distribution of inventory.
We offer a Free Trial to prove what
FIRM can do for you.
FIRM is useful in Simple or Complex Inventory Systems
Whether your business consists of a single inventory location with simple replenishment rules or
multiple locations with complex replenishment rules such as transfers, allocations and inter-
location dependent buying quantities, the FIRM system will optimize your inventory levels and
increase the efficiency of your operation.
FIRM integrates with your existing system
FIRM is an easy add-on to your existing system whether it is a home grown system or a
complex ERP package. The required input data for FIRM is downloaded from your main
system to FIRM and the FIRM output is uploaded back to your main system.