How Sumitomo Corporation of Americas Turns Inventory into “Ready Money”

Join us for this exciting episode, as we discuss Sumitomo Corporation of America's innovative approach to inventory optimization, as they collaborated and partnered with Optilogic, and how they incorporated a simulation-based model to convert inventory into "ready money."Hosts Scott Luton and Greg White welcomed Evrim Ertugrul, Deputy Head of Corporate Logistics at Sumitomo and John Ames, Jr., VP of Business Development at Optilogic for an excellent conversation that highlighted:The complexity and pressure businesses face, with increased awareness of the supply chain due to events like the great toilet paper shortageA critique of traditional inventory optimization methods that fail to model real-world demand variability and are based on outdated assumptions like average demand and static upstream service levelsSumitomo's collaboration with Optilogic on a project named Cosmic Frog, where they use a genetic algorithm to run many simulations, creating a risk-free environment that assists in decision-makingThe simulation's ability to handle various types of demand profiles and the concept of moving towards a digital twin for supply chain operations using advanced modeling techniquesAdditional Links & Resources:Learn more about Supply Chain Now: https://supplychainnow.comCheck out our new Supply Chain Now Media Kit: https://bit.ly/3emdLcKSubscribe to Supply Chain Now and all other Supply Chain Now programs: https://supplychainnow.com/subscribeLearn more about Optilogic and Cosmic Frog: https://www.optilogic.com/cosmic-frog/2023 Q3 U.S. Bank Freight Payment Index: https://bit.ly/3VuwnIkWEBINAR- Unleashing the Potential of Distribution for a Better Supply Chain: https://bit.ly/3umO3fPThis episode is hosted by Scott Luton and Greg White. For additional information, please visit our dedicated show page at: https://supplychainnow.com/sumitomo-corporation-americas-tunrs-inventory-ready-money-1202