University of California at Berkeley
BioMarin currently uses an inventory planning system based on initiating production of specific end items in order to ensure that forecast inventory levels never fall below a required minimum. This system is currently managed manually. In this project, we first develop a tool that automates this planning based on exogenously determined minimum inventory levels. Once this tool has been validated, we will use it as a key component in the development of algorithms to optimize these minimum inventory levels.
This project consists of two key steps:
1) Develop a spreadsheet based tool to automate inventory planning based on minimum forecast inventory levels in end-product inventory.
2) Optimize those minimum levels to ensure that demand is met while mimimizing inventory holding cost and expired inventory.