Patent Document ID: 9875452
Application ID: 14134514
Patent Status: 1

Claim One:
1. A method comprising: identifying, using at least one hardware processor and based on receiving baseline inventory information, a service strategy for assigning service levels to a plurality of segments, the baseline inventory information reducing a collection time, and usage of the at least one hardware processor, associated with collecting information associated with a current inventory of service parts, each service level being associated with the service parts, each service level being associated with one of the plurality of segments, each of the plurality of segments being associated with a different classification of the service parts, identifying the service strategy including: selecting a segmentation criteria to identify the plurality of segments, and utilizing empirical data to quantify the service levels for the plurality of segments; receiving, using the at least one hardware processor, information indicating an assignment of best-fit planning models to the plurality of segments, each best-fit planning model being associated with one of the plurality of segments; identifying, using the at least one hardware processor and based on receiving the information indicating the assignment of the best-fit planning models to the plurality of segments, a probability distribution function that matches a demand associated with the plurality of segments, the probability distribution function representing the demand; performing a simulation, using the at least one hardware processor and based on the best-fit planning models, to test the probability distribution function against historical usage data and to determine the service levels, the service levels being determined based on the service strategy; adjusting, using the at least one hardware processor, a deployment algorithm based on performing the simulation, the deployment algorithm being used to calculate target stock levels for the plurality of segments; selectively repeating, using the at least one hardware processor, identifying the probability distribution function, performing the simulation, and adjusting the deployment algorithm until the target stock levels cause the service levels to be satisfied; providing for display, using the at least one hardware processor, the target stock levels for the plurality of segments when the target stock levels cause the service levels to be satisfied; receiving, using the at least one hardware processor, information associated with a demand for a particular service part, of the service parts, and a variation in the demand for the particular service part; determining, using the at least one hardware processor, an inventory plan for the particular service part based on the target stock levels, the demand for the particular service part, and the variation in the demand for the particular service part, the inventory plan increasing savings, associated with inventory costs, for a supplier of the particular service part; and providing for display, using the at least one hardware processor, the inventory plan for the particular service part.