Patent ID: 8671031

Claim:
An inventory control system for determining a target inventory level of at least one component of a product, comprising: a target inventory module that is employable to determine at least a first target inventory level for the at least one component at least in part by analyzing usage data for the at least one component, the target inventory module including computer readable instructions that are operable to: obtain a plurality of chronologically-arranged usage data points for the at least one component; sum, for each of a plurality of at least partially different time periods that each have a common duration equal to a supplier lead-time for the at least one component, the chronologically-arranged usage data points over the time period to create a plurality of corresponding bucketed lead-time data points; determine a base inventory amount associated with forecasted consumption of the at least one component; acquire a ratio of the base inventory amount over an average of the plurality of bucketed lead-time data points; statistically determine a variance amount of the at least one component using at least some of the bucketed lead-time data points; ascertain a product of the ratio and the variance amount; and sum the base inventory amount and the product to create the first target inventory level; and a processor that is operable to employ the computer readable instructions to determine at least the first target inventory level.