Using Analytics to Optimize M&TE Inventory - a Case Study

This paper describes a case study involving an inventory optimization pilot project that used analytics as a key to identifying and managing inventory levels for a measuring and test equipment program. This paper highlights the approach taken and the analytical tools used to execute that strategy. The approach follows the general guidelines of a LEAN improvement project using DMAIC(Define, Measure, Analyze, Implement, Control) The paper concludes with a summary of results from the pilot project, some lessons learned, anticipated next steps for full-scale implementation, and estimates of potential overall savings.