NeverOut Customer Managed Inventory System

Does your company have certain critical items that HAVE to be available? 

As important as these are, it can be difficult to get timely and accurate compliance regarding usage of these items.  This is often the result of having multiple employees access the items on an as-needed basis – particularly if this requires a transaction to be performed.  Sometimes employees don’t understand the importance of the process.

This customer managed inventory (CMI) process is further complicated if you would like the flexibility to buy items from more than one source.  Different vendors may have different pack quantities and labeling.

The standard methods for managing CMI includes:

1.       Regular counts

An employee has the responsibility to audit the on-hand amounts of these items on a scheduled basis.  This is an expensive alternative but these are critical items.  It also requires appropriate training and requires training of back-up employees to deal with sickness, vacation, or other types of PTO.

2.       Transaction-based systems

This approach requires items to be “received” into a system and “issued” out of the system.   In theory, this is a simple process often driven by the ubiquitous barcode scanner.  The receipt is typically not the problem since the employees responsible for this are often warehouse operators that perform these transactions all day long.  However, when using this method, you can run into issues with compliance. Typically, this happens when the items are needed by manufacturing employees who are often highly trained in the build process but less familiar with inventory transactions.  Scanning equipment availability and lack of familiarity with using it occasionally creates barriers as well.

3.       Automated processes (machine learning combined with artificial intelligence)

We offer RFID reader(s) paired with access to our NeverOut™ CMI system.  Receipts are performed by your warehouse staff.  Part of the process is to apply an RFID tag to the item.  This tag is pre-encoded with a unique serial number (LP).  In addition to capturing the item and quantity in the container, we also capture the serial number on the RFID tag.  This allows you to uniquely tag every container.  RFID readers would be deployed to provide coverage of your storage areas. 

Once the products are stored, the readers begin continuously inventorying the tags.  As products are taken from storage, the tags will no longer be read.  This allows us to determine it was issued.  In this way, we can maintain a perpetual inventory without requiring any additional transactions by your staff.

NeverOut CMI

Supply chain inventory tracking and replenishment system

NeverOut CMI (Customer Managed Inventory) uses two Artificial Intelligence (AI) based modules to accomplish its tasks.

The first module uses machine learning with RFID readers to keep an automated, accurate, near real-time inventory of the items being tracked. 

This data is supplied to the second AI module which uses predictive analytics to make recommendations for replenishments based on observed usage trends on a per item basis.

NeverOut CMI is available as an add-on module or a stand alone service - monthly subscription required (SaaS).

What you need, Where you need it!