Yes - but the primary focus is to have a single dynamic optimal stock level to strive for, instead of having a range of min/max.
The optimal stock level is by definition at the most basic level your supplier lead demand (ie: the forecasted demand over your supplier's lead time) + your optimal buffer stock. StockTrim calculates these values for you automatically based on the most recent or changing demand trends, seasonality, changing supplier performance, and other variables. They are then continually updated dynamically as new sales data and supplier data comes in. There are several other factors that come in to play as well that StockTrim can manage for you (for example reorder frequencies, minimum order quantities, batch sizes, service levels and more).
Traditionally, when using old-school spreadsheets or with less precise inventory management / optimisation, some procurement managers have used a min / max strategy. It's easier to manage in a spreadsheet. This is where the minimum would be the reorder point (at which you'd place another order when the stock reached this value) and the maximum would be the target stock (at which you wouldn't want to go over to avoid excess capital being tied up). Then, as capabilities increased, these would become dynamic values, shifting with demand patterns as above.
But with modern tools like StockTrim, since they have much better automation and data analysis methods under the hood (using AI and other statistical methods), it's possible to aim for a single optimal stock level instead of this wider min/max range. The system can continually monitor your trends and show you the optimal date to order, and quantities to order based on your current and expected demand so you can get as close to this optimal as possible, so you can have the best possible use of your available capital while keeping stockouts to a minimum.
The net effect of this is that your optimal min/max levels will always be changing every buying cycle, depending on the demand in the upcoming lead time days based on your reorder frequency. This is shown graphically in StockTrim's order schedule view, which predicts your future stock levels and expected order amounts in the future.
(note the date of this image is 24th June - these are future dates)
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