Ortec, provider of advanced planning solutions and consultancy services, has launched its newest product - Ortec Inventory Routing (Ortec IR). This advanced solution is the latest addition to Ortec 's logistics suite of products and it offers a total, combined solution for demand forecasting, inventory planning and route execution. Janneke Meesters, Senior Industry Leader at Ortec, expands on this further: "With Ortec Inventory Routing we have broken the mould in delivering a product that combines demand planning and real-time vehicle routing capabilities within a single application. As a result, more and more companies across a broad industry spectrum can now benefit from a wider range of options for logistics process optimisation and workload balancing."
Shifting market trend
Up until recently, transport and logistics companies were either focused on demand forecasting, as in the case of the oil, gas and chemicals industry, or on real-time operational planning. However, these market trends have begun shifting and more and more organisations are now looking to combine batch forecasting and planning optimisation with real-time execution and dispatch. "The release of Ortec IR comes in response to this market shift and demonstrates our close integration with the market and our unparalleled commitment to delivering the best and most advanced forecasting and routing solution," explains Janneke Meesters.
High degree of usage flexibility
Ortec IR offers a wide range of options for logistics process optimisation - from fully automated optimisation through to the manual assignment of replenishment orders to routes and resources (vehicles, trailers and drivers etc.). Companies are offered planning process support on three levels: operational planning and execution; operational/tactical support via a proposal algorithm and forecasting and optimization engine; and finally, scenario analysis to assist with tactical and strategic decision-making. The system supports the planner by means of an interactive desktop that provides a clear overview of the plans and the activities that need to be performed.
The benefits of deploying a system such as Ortec IR are widespread. Besides the huge cost savings that can be realized as a result of reduced distances, driving time, increased delivery size and vehicle utilisation, companies can also increase operational efficiency and customer satisfaction, and lower their carbon emissions. Furthermore, the enhanced forecasting capabilities lead to improvements in average drop size, an elimination of out-of-stock situations and a reduction in oversized deliveries and product returns. Janneke Meesters concludes: "We are already engaged in a number of pilot projects to implement Ortec IR and the initial results are extremely encouraging, not to mention the positive feedback we've received from our customers. These are really exciting times and we look forward to equipping many more customers with the functional capabilities of Ortec Inventory Routing in the future."