Latest news with #IICO
Forbes
2 days ago
- Business
- Forbes
A Unified Framework For Inventory Optimization And Capacity Management
Dileep Kumar Rai is a global supply chain optimization expert, Oracle Fusion Cloud architect and demand forecasting leader. Modern supply chain operations present companies with two essential challenges: managing inventory levels properly to prevent excessive and insufficient stock and maintaining production capacity that matches changing market demands. While the separate management of these challenges creates siloed approaches, their combined impact determines customer satisfaction, operational efficiency and profitability. The core issue remains basic, yet resolving it is extremely difficult: • Excessive inventory leads to increased holding costs, which reduces profit margins and blocks essential working capital. • Insufficient inventory levels create stockout situations, which results in missed orders, revenue loss and harm to customer trust. • Production bottlenecks operate in the background to reduce throughput, which restricts a company from fulfilling orders even when inventory is present. Maintaining optimal inventory levels becomes critical in industries producing custom orders and storing products with high value and low sales velocity. The supply chain experiences multiple friction points because of procurement lead times, variable demand, multi-stage assembly and quality testing. I suggest the integrated inventory-capacity optimization (IICO) framework to tackle these interconnected challenges. This organized method aligns inventory policies with production conditions, employing a closed feedback loop to foster improvement. The framework consists of four core pillars: Knowing when and how much to reorder to meet demand without overstocking is at the heart of effective inventory management. We apply the classic QR Model (order quantity-reorder point model) to calculate: 1.1 Q = sqrt((2 * λ * S) / h) Where: 1.2. ROP. = dL + Z * σL Where: This model ensures optimal replenishment timing and quantity while incorporating variability and service level requirements. By integrating it directly into an ERP or procurement system, companies can automate purchase triggers when inventory approaches the calculated reorder point (ROP). Meeting demand is not just about having inventory—it's about the ability to process it. The next step is to measure capacity utilization across production or assembly stations: Utilization(U) = Actual Throughput / Machine Capacity A station operating near or at full utilization (>90%) may become a bottleneck, limiting overall throughput. This metric must account for both initial production and any rework or retesting loops that increase the effective load on machinery. Once high-utilization stations are identified, companies must determine: A bottleneck analysis quantifies the cost of capacity constraints in terms of lost orders and revenue compared to the investment required to expand capacity. This provides leadership with a clear ROI case for capital expenditure. Production systems seldom operate in a steady state. The IICO framework includes a feedback loop: This cycle ensures that capacity adjustments and inventory policies evolve as demand, process efficiency and supplier reliability change. While this framework originated from a real-world solution implemented within a high-stakes aerospace supply chain, its principles apply broadly to any operation where: The IICO framework provides a scalable, adaptable roadmap for synchronizing procurement, inventory management and production capacity in industries ranging from electronics to pharmaceuticals, automotive to luxury goods. By bridging inventory optimization and capacity management, organizations avoid a common pitfall: addressing stock levels without considering production constraints. Conversely, adding capacity without aligning inventory policies risks idle assets or ongoing shortages. A unified approach ensures: Operational agility is non-negotiable in a world of rising customer expectations and global supply chain disruptions. The IICO framework offers a structured, actionable pathway for companies balancing cost, capacity and customer satisfaction. This model transforms inventory and production management from reactive firefighting into proactive, strategic control by embedding predictive analytics, continuous improvement and cross-functional collaboration. Organizations ready to close the gap between inventory decisions and capacity realities will find in this framework not just a tool but a competitive advantage. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Kuwait Times
22-05-2025
- General
- Kuwait Times
IICO empowers Syrian refugee women in Turkey
Syrian woman is hononed. KUWAIT: The International Islamic Charitable Organization (IICO) has successfully concluded the 'Abdullah Ali Al-Mutawa' vocational and development training project, aimed at empowering Syrian refugee women in Turkey by equipping them with essential skills in sewing, embroidery and cooking. In a press statement issued on Thursday, the organization affirmed its continued commitment to supporting vulnerable communities and promoting women's empowerment in crisis-affected areas. The initiative, which spanned six months and was implemented at a total cost of over $37,000, benefited 101 Syrian refugee women, positively impacting nearly 400 family members. One of the vocational workshops. - KUNA photos As part of the program's outcomes, IICO provided professional tools and equipment to ten participants, enabling them to launch small-scale projects from their homes. This practical support helped translate the training into tangible income-generating opportunities, placing the women on a sustainable path toward financial independence and social integration. The organization emphasized that the project responds to the pressing economic and social challenges faced by Syrian women, particularly widows, in the absence of a primary breadwinner. It added that the initiative seeks to foster a supportive environment where women can acquire skills, contribute productively and improve their livelihoods. — KUNA
Kuwait Times
19-05-2025
- Business
- Kuwait Times
IICO launches housing a project for Rohingya refugees in Bangladesh
Rohingya family members benefit from the humanitarian project.- KUNA photos KUWAIT: The International Islamic Charitable Organization (IICO) announced on Monday the successful implementation of the first phase of a housing project for Rohingya refugees in Cox's Bazar, Bangladesh. The initiative, which aims to improve living conditions for vulnerable communities, includes the construction of 175 solar-powered housing units designed to accommodate approximately 1,050 individuals. In a press statement, IICO revealed that the project's first phase was fully funded at a cost exceeding KD 31,943 (around $104,000). The housing units are part of the organization's broader humanitarian efforts to provide safe shelter, protect families from harsh weather, and ensure greater privacy and security in overcrowded refugee camps. The statement noted that the housing structures were built using practical and sustainable materials, such as bamboo and cement, with weather-resistant roofing made from plastic and straw — materials well-suited to the area's climate conditions year-round. Each unit spans roughly 16 square meters and is equipped with solar-powered lighting systems, replacing hazardous kerosene lamps that have been linked to frequent and destructive fires in the camps. IICO reaffirmed its commitment to humanitarian relief and development, emphasizing its ongoing strategic partnership with the United Nations High Commissioner for Refugees (UNHCR), which dates back to the signing of a memorandum of understanding in 2000. The organization reiterated its resolve to expand its efforts in supporting displaced and vulnerable populations through sustainable development solutions that align with its core mission to empower communities worldwide. - KUNA
Kuwait News Agency
19-05-2025
- General
- Kuwait News Agency
Kuwaiti charity constructs 175 houses for Rohingya refugees in Bangladesh
Human LOC11:30 08:30 GMT KUWAIT, May 19 (KUNA) -- Kuwait's International Islamic Charity Organization (IICO) constructed 175 houses with solar-powered utilities for 1,050 Rohingya refugees in Bangladesh, said a statement by the charity on Monday. The IICO revealed in a statement that this charitable effort cost around USD 104,000, indicating that the aim was to protect Rohingya families and provide them with safe and environmental-friendly dwellings. The design of the houses, made of bamboo, plastic, and cement, was meant to protect refugees from the elements, said the IICO, adding that each housing unit was built on an area of 16 square meters. The Kuwaiti charity affirmed that it would to expand humanitarian partnerships with international organizations, saying that it signed with United Nations High Commissioner for Refugees in 2000 a MoU to help the Rohingyas and others across the globe. (end)
Kuwait Times
15-05-2025
- General
- Kuwait Times
IICO launches water project for displaced families in Gaza
KUWAIT: The International Islamic Charitable Organization (IICO) has launched a vital water supply initiative to support 50,000 displaced and affected families in Gaza, providing them with potable water amid worsening humanitarian conditions. The project, valued at over $68,000, is aimed at easing the daily struggles of families residing in shelters and residential neighborhoods across the Strip. In a press statement issued on Wednesday, the IICO said the initiative involves the daily distribution of desalinated water via large tankers. These tankers transport clean water from desalination plants to more than 200 camps and residential areas, with quantities tailored to the specific needs of each location. 'This project addresses one of the most urgent humanitarian needs as Gaza continues to face severe water shortages and a collapsing water infrastructure,' the statement said. 'Displaced individuals, many of whom are crammed into overcrowded shelters, are forced to wait in long lines for limited amounts of water, which often fall short of meeting their daily requirements.' Charitable Organization implementing its 'Water Supply' project to serve 50,000 affected and displaced families in Gaza.- KUNA photos The organization noted that the initiative not only seeks to provide immediate relief but also aims to improve living conditions and safeguard public health. 'Access to clean water is a basic human right and essential to preserving life and well-being, especially for vulnerable groups such as women, children, and the elderly,' the statement added. The IICO reaffirmed its commitment to supporting the people of Gaza and pledged to continue implementing projects that address urgent humanitarian needs in the region. — KUNA
