Spare parts inventory faces two major problems: overstock and stockouts. Stockouts lead to missed sales opportunities, delayed repairs, and unhappy customers; overstocks result in tied-up capital, increased storage costs, and waste. As these challenges are overcome, companies rely more and more on AI.
Technologies part of AI--predictive analytics and machine learning--can provide sophisticated solutions for optimizing inventory levels. By analyzing historical data, market trends, and demand patte
