Abstract: An inventory management system and method computes a safety stock level for each day of the week based on specific historical data for that day of the week, independent of other days in the sales cycle. The inventory management system therefore accommodates cyclic trends over different days of the week (or other sales periods) to identify a forecast error specific to the day of the week, rather than an average over many days, and allow for a safety stock level as recorded by surges on a particular day due to random factors. The generated safety stock levels generate for each SKU (Item at a location) inventory replenishment criteria streamlined to order only those quantities needed to maintain the safety stock level, and further assure that a near complete in-stock percentage (such as 95% or 97%) is maintained. The system generates ordering quantities that are specific to the day of the week calculated over a week of sales.

Abstract: An inventory management system and method computes a safety stock level for each day of the week based on specific historical data for that day of the week, independent of other days in the sales cycle. The inventory management system therefore accommodates cyclic trends over different days of the week (or other sales periods) to identify a forecast error specific to the day of the week, rather than an average over many days, and allow for a safety stock level as recorded by surges on a particular day due to random factors. The generated safety stock levels generate for each SKU (Item at a location) inventory replenishment criteria streamlined to order only those quantities needed to maintain the safety stock level, and further assure that a near complete in-stock percentage (such as 95% or 97%) is maintained. The system generates ordering quantities that are specific to the day of the week calculated over a week of sales.