Naomi Cooper
The Defense Logistics Agency Logistics Operations has awarded LMI a contract to help enhance research and development methods and improve purchase order lead time estimates for new systems.
Jon Baba, senior vice president of LMI’s defense market, said in a statement published Tuesday that the company will implement artificial intelligence and machine learning models and apply its Financial and Inventory Simulation Model tool to DLA’s systems to provide data-driven insights and improve decision-making.
The AI implementation will enable DLA to measure changes in inventory storage, obligation authority ad backorders to boost warfighter readiness.
FINISIM is a discrete event simulation tool that analyzes interactions between inventory and financial systems to evaluate the impacts of changes to financial and procurement processes.
The model incorporates standard forecasting and inventory control approaches and benchmarks to compare alternative inventory control methods.
The Potomac Officers Club will host the 10th Annual Defense R&D Summit on Jan. 31 to discuss the latest developments in the defense technology sector. Register here and save a seat at the highly anticipated event.
