FINISIM™—Financial and Inventory Simulation Model
FINISIM™ is a discrete event simulation that provides rapid analyses of complex, large-scale inventory and financial systems and the interaction between them, tracking supply-chain–related financial metrics.
The Financial and Inventory Simulation Model (FINISIM™) is a discrete event simulation that rapidly analyzes complex, large-scale inventory and financial systems and the interaction between them. The model tracks supply chain-related financial metrics, such as inventory investment, cash flow, and sales, as well as supply-related metrics such as customer wait time, fill rates, and backorder duration. It enables users to quickly evaluate impacts of changes to financial, procurement, and repair systems’ settings, capturing those systems’ interactions with dynamic demand patterns. Custom event processing means that it takes just a few hours to simulate hundreds of thousands of items’ daily activity over several years. This supports rapid tradeoff and what-if analyses.
Model Your Network
FINISIM™ can model a network of inventory sites, each with its own operating policies. Sites can have their own forecasting, safety stock, order quantities, as well as different frequencies for updating them.
Advance Planning Possible
In an era of scarce resources, rapid analysis is critical. Inventory planners can use FINISIM™ to simulate the impact of budget cuts before they occur. Buyers can use the tool to evaluate whether changes in stock policies will decrease or increase wait times for a part, and gauge the financial impacts. Managers can use FINISIM™ to identify the best methods for reducing procurement workload, and for most efficient use of repair resources. The model simulates the impact of changes before enterprises commit time or money to retooling their existing inventory systems, or initiating new policies for financing inventory.
Robust Forecasting and Inventory Control Implemented
How is FINISIM™ able to answer such complex questions? LMI has spent nearly 20 years developing and refining the model. The result is a robust tool that incorporates many standard forecasting and inventory control approaches as well as benchmarks to enable rapid comparison of alternative inventory control methods. FINISIM™’s standard suite features 16 stocking policies, 20 forecasting models, 10 options for setting safety levels, and six methods for computing order quantity, as well as a flexible set of repair options. For items where traditional forecasting and safety stock approaches do not produce acceptable results, FINISIM™ enables you to test LMI’s risk-based inventory control model, to gauge potential benefits. LMI’s analysts can also tailor FINISIM™ to your specifications in order to emulate other methods that you want to evaluate.
Tradeoff Analyses Support Decision-Making
FINISIM™ helps managers visualize the tradeoffs between customer service, inventory cost, and procurement. For example, managers can use the tool to plot on-hand investment versus wait time and see how the two interact. The user can observe the tradeoffs possible by tuning current operating policies, and observe how those tradeoffs change with a move to a completely different set of policies. FINISIM™’s speed enables a rapid but thorough exploration of tradeoff options.
Avoid Assessment Bias
Unlike many simulations, FINISIM™ lets you stress-test operating policies against historical demand, or randomized historical demands, rather than forcing you to accept theoretical demand probabilities that do not fit your data. FINISIM™ avoids assessing inventory control models against their assumed demand distributions—a bias that can result in accepting a model that ends up producing bad business outcomes.
Drill Down Capability
FINISIM™ enables the user to drill down to look at individual items that are driving investment, driving buyer workload, or to isolate items requiring customer service improvements. Item-level output data includes numerous metrics for customer service, buy and repair actions, and financial impacts.
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Tysons, Va.— LMI is pleased to announce that Jonathan (Jon) Baba has joined LMI as senior vice president, defense market. He brings over 20 years of public-sector experience supporting the Department of Defense (DoD) and defense industry.
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Read more on 'Featured Solutions 'The New Speed of Possible™
Featured Solutions
We’re creating innovative solutions to transform emerging needs into extraordinary impacts at The New Speed of Possible™.
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Read more on 'Here’s How To Leverage Data for Health Equity 'Insights
Here’s How To Leverage Data for Health Equity
In the U.S., race, socioeconomic status, and zip code predict life expectancy—we discuss how to build more equity into the healthcare system.
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Read more on 'Implementing AI in Government 'Insights
Implementing AI in Government
Artificial intelligence and machine learning systems support federal missions from national security to citizen services. Keith Rodgers outlines what agencies should keep in mind when considering implementation of AI tools and how to optimize these technologies.
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Read more on 'Integrating IoT and Sensors To Improve Infrastructure Management Systems 'Blog
Integrating IoT and Sensors To Improve Infrastructure Management Systems
When paired with AI/ML, the data provided by IoT devices and sensors offer insights on the status and condition of assets while enhancing utility, efficiency, and resiliency. Our experts weigh in on what is important to consider when implementing these technologies to improve infrastructure management.
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Read more on 'Initial Outfitting Support to Military Health Facilities 'Perspective
Initial Outfitting Support to Military Health Facilities
LMI helps Ireland Army Health Clinic at Fort Knox, KY, open its doors.
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Read more on 'Sustainability 'What We Do
Sustainability
LMI adapts industry-leading approaches to customers’ unique mission needs. We support energy, sustainability, and climate resilience efforts with customizable analysis and reporting tools.
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Read more on 'Predicting Failure: Is the Government Finally Ready for Predictive Fleet Maintenance? 'Innovation at the Pace of Need™
Predicting Failure: Is the Government Finally Ready for Predictive Fleet Maintenance?
Our workshop brought together experts from government, industry, and academia to identify the past obstacles to progress and propose solutions.
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Read more on 'Performance Optimization 'What We Do
Performance Optimization
Unlocking people’s full potential and using readily accessible data and technology to position organizations for long-term sustainability.
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Read more on 'Technology Integration Partner 'What We Do
Technology Integration Partner
LMI combines hands-on expertise with existing and emerging technologies, our deep understanding of logistics processes and operations, and over 60 years of experience and partnership with the government for totally integrated technical solutions.
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Read more on 'How Value-Based Care Can Improve for Patients, Providers and Payers Post COVID-19 'Insights
How Value-Based Care Can Improve for Patients, Providers and Payers Post COVID-19
The federal government has focused on value-based care to increase efficiency in healthcare. Here’s what we must do to ensure the model’s success.
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Read more on 'Infrastructure Resilience 'What We Do
Infrastructure Resilience
LMI helps federal agencies strengthen infrastructure resiliency with data-driven strategies that respect natural resources and support sustainability.
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Read more on 'Real-Time Logistics Visualization To Save Time and Money When Tracking High-Value Assets 'Insights
Real-Time Logistics Visualization To Save Time and Money When Tracking High-Value Assets
Automating logistics operations of the Naval Supply Systems Command O65 with advanced analytics and automated tracking of high-value assets using RFID.
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Read more on 'LMI Participates in Viz for Social Good Challenge for India Water Portal 'Innovation at the Pace of Need™
LMI Participates in Viz for Social Good Challenge for India Water Portal
Members of LMI’s Data Visualization community of practice volunteered their time to participate in the Viz for Social Good Challenge.
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Read more on 'LMI Team Receives Specialized Biomonitoring Training 'Innovation at the Pace of Need™
LMI Team Receives Specialized Biomonitoring Training
LMI’s environmental planning team (Jennifer Brown, Ashley Rivero, and David Walls) completed lichen biomonitoring training sponsored by the U.S. Forest Service, Region 6. The team spent three days in the Rouge River–Siskiyou National Forest’s Kalmiopsis Wilderness, where they learned how to set a biomonitoring plot, calculate tree density, identify lichen plant communities, set abundance scores, and collect tissue samples for analysis.
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Read more on 'LMI’s Approach to Improving Government Supply Chains 'Innovation at the Pace of Need™
LMI’s Approach to Improving Government Supply Chains
Supply chains are rapidly changing. Knowing how to make supply chains efficient and effective is more important than ever, but sometimes the challenge is knowing what to focus on and which practices to implement.
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Read more on 'LMI’s Clark Spencer Talks Joint Health Risk Management (JHRM) for Defense Health 'Insights
LMI’s Clark Spencer Talks Joint Health Risk Management (JHRM) for Defense Health
Using artificial intelligence and machine learning (AI/ML), we can make predictions about health consequences for the warfighter and deployed civilian personnel before they occur.
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Read more on 'The Time to Get Ahead of Telehealth Fraud and Abuse Is Now 'Insights
The Time to Get Ahead of Telehealth Fraud and Abuse Is Now
The pandemic illustrated telehealth’s importance for our healthcare system but payers must get ahead of fraud and abuse issues to make telehealth effective.
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Read more on 'Assessing & Anticipating Rapidly Evolving Capabilities 'What We Do
Assessing & Anticipating Rapidly Evolving Capabilities
LMI tailors data-driven approaches to select, develop, and mature capabilities with simultaneous and integrated analytical, simulation, prototyping, demonstration, and transition activities. Our customers engage with feedback throughout the process for continuous improvements.
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Read more on 'Turning Supply Chain Risks into Decisive Action 'Innovation at the Pace of Need™
Turning Supply Chain Risks into Decisive Action
LogSmart™ Supply offers the industry's most complete insight into the impacts of supply chain risks and mitigation strategies. Turn your risk data into decisive action.
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Read more on 'Mission Engineering 'What We Do
Mission Engineering
Integrating modeling and simulation, supply chain engineering, wargaming, and more, LMI harnesses more than 60 years of cutting-edge innovation and experience to enhance capabilities and technologies in support of our customers’ most challenging mission requirements.
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Read more on 'LMI Extends Support to OSD in Electronic Warfare, Air Platforms and Weapons, and International Cooperation 'Press Release
LMI Extends Support to OSD in Electronic Warfare, Air Platforms and Weapons, and International Cooperation
LMI will continue to support the Office of the Secretary of Defense address critical acquisition challenges through a five-year contract valued at over $16 million.
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Read more on 'LMI’s Derrick Spain: Technical Expert for WIC Program 'Insights
LMI’s Derrick Spain: Technical Expert for WIC Program
LMI’s end goal while supporting the Women, Infants, and Children (WIC) program and Food and Nutrition Service (FNS) is to help our client reach their specific goals and ultimately improve health equity and the communities they serve.
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Read more on 'Enterprise Maintenance and Operations Support for WIC Program 'Insights
Enterprise Maintenance and Operations Support for WIC Program
LMI's Les Milner has over 30 years of experience working in information technology while supporting the WIC program alongside over 40 state agencies, Indian Tribal Organizations (ITO), and territories on multiple contracts.
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Read more on 'Logistics Automation: Where Military and Commercial Applications Converge 'Innovation at the Pace of Need™
Logistics Automation: Where Military and Commercial Applications Converge
To combat labor shortages in the transportation market, much of the world is investing in automated processes. For the U.S. military, logistics automation will be necessary in contested environments where near-peer adversaries target our logistics capabilities.
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Read more on 'Logistics Decision Dominance 'Insights
Logistics Decision Dominance
Now is the time to turn significant attention and resources to maintaining our logistics advantage.
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Read more on 'How the FDA Can Improve the Vaccine Approval Process 'Insights
How the FDA Can Improve the Vaccine Approval Process
We can apply the lessons from the COVID pandemic to vaccine and treatment submissions moving forward. Here’s how.
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Read more on 'LMI Migrating the Maintenance and Availability Data Warehouse to Advana 'Press Release
LMI Migrating the Maintenance and Availability Data Warehouse to Advana
LMI has been awarded a 1-year, $1.5 million contract for a one-time data migration from the LMI-created Maintenance and Availability Data Warehouse (MADW) to the Advana Data Warehouse for the Joint Artificial Intelligence Center.
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Read more on 'LMI Workshop Examines Data Ethics for Government 'Innovation at the Pace of Need™
LMI Workshop Examines Data Ethics for Government
How can organizations ensure artificial intelligence and machine learning (AI/ML) techniques are free from human biases?
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Read more on 'Supply Chain Resilience Solutions 'What We Do
Supply Chain Resilience Solutions
LMI’s public-sector experts in logistics bring over 60 years of experience helping organizations mitigate supply chain risks. Our in-depth understanding of supply chain and government operations combine to provide effective, practical solutions for reducing and managing risk and increasing resiliency.
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Read more on 'DARPA LogX 'What We Do
DARPA LogX
The DARPA LogX program examines the resiliency of the global supply chain via data disruptions and various modeling approaches.
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Read more on 'Lifecycle Management & Modernization 'What We Do
Lifecycle Management & Modernization
LMI’s logistics management and modernization methods have improved customer outcomes for over 60 years by optimizing lifecycle system performance, affordability, and sustainment.
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Read more on 'LMI Forms Digital and Analytic Solutions Unit to Accelerate Technology-Enabled Transformation for Federal Agencies 'Press Release
LMI Forms Digital and Analytic Solutions Unit to Accelerate Technology-Enabled Transformation for Federal Agencies
LMI has named Karen Britton as chief digital officer and vice president of marketing and communications and Josh Wilson as vice president of digital and analytic solutions, a new business unit resulting from the merger of its advanced analytics and digital services practices.
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Read more on 'Employee Spotlight: Meet Scot Stitely 'Culture News
Employee Spotlight: Meet Scot Stitely
Scot joined LMI when it acquired Suntiva in 2021. He and his team are responsible for LMI’s strategic planning activities such as identifying growth targets and offering development strategies for customers in the defense and space markets.
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Read more on 'Employee Spotlight: Meet Marshall Smith 'Culture News
Employee Spotlight: Meet Marshall Smith
Leveraging his over 25 years of predictive analytics experience, Marshall’s focus includes developing innovative solutions for customers and offering his expertise to grow LMI’s predictive analytics capabilities.
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Read more on 'Employee Spotlight: Meet Karen Goodson 'Culture News
Employee Spotlight: Meet Karen Goodson
Karen Goodson leads a team that offers innovative solutions to solve the Army’s toughest challenges.
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Read more on 'Employee Spotlight: Meet Jordan Hefferan 'Culture News
Employee Spotlight: Meet Jordan Hefferan
As a product portfolio owner, Jordan has defined and developed applications offering on-demand supply chain resiliency through LogSmart™ Supply and created customer solutions to understand, measure, and mitigate risks to contested logistics.
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Read more on 'LMI Forge™ Technology Studio: Use Cases 'Innovation at the Pace of Need™
LMI Forge™ Technology Studio: Use Cases
Navigate Forge™ solutions addressing specific use cases.
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Read more on 'Employee Spotlight: Meet Randy Dragon 'Culture News
Employee Spotlight: Meet Randy Dragon
Prior to joining LMI in 2019, Randy Dragon acted in executive leadership and management positions in the United States Army, joint and multinational forces, and the defense industry. Before entering the civilian sector, Randy served over 30 years in the Army, entering active duty in 1980 after being commissioned in the infantry through the Reserve Officers' Training Corps program at James Madison University.
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Read more on 'RAPTR™ 'What We Do
RAPTR™
The Rapid Analysis and Prototyping Toolkit for Resiliency (RAPTR™) provides an extensible, scalable architecture for modeling, simulation, analysis, and visualization for the space warfighting domain as well as cross-domain integration.
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Read more on 'Health & Civilian 'The New Speed of Possible™
Health & Civilian
Our subject matter experts and advisors have a broad knowledge base across the spectrum of federal health and civilian agencies to enable excellence in execution that transcends boundaries.
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Read more on 'Homeland Security 'Who We Serve
Homeland Security
Delivering award-winning acquisition, modeling, financial management, scientific, and logistics management support to the Department of Homeland Security.
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Read more on 'Space 'Who We Serve
Space
LMI’s space market provides technical solutions as a trusted partner in the national security space industry.
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Read more on 'Internet of Things (IoT) 'What We Do
Internet of Things (IoT)
LMI helps customers make better risk management decisions through IoT technologies and toolkits using near-real-time analytical data.
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Read more on 'Data & Analytics 'What We Do
Data & Analytics
LMI provides advanced data and analytic consulting expertise, pairing data scientists with domain experts to deliver innovative solutions at the pace of need.
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Read more on 'Applied Artificial Intelligence (AI) 'What We Do
Applied Artificial Intelligence (AI)
LMI's applied AI solutions equip leaders with tools, processes, and skills to derive insights from big data, business operations and technology infrastructure.
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Read more on 'What We Do 'Innovation at the Pace of Need™
What We Do
Supporting missions that have shaped the nation since 1961, we apply long-standing expertise to create sustainable solutions.
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Read more on 'LMI Extends Support to USPS Corporate Sustainability and Energy Initiatives 'Press Release
LMI Extends Support to USPS Corporate Sustainability and Energy Initiatives
LMI will recommend strategies to support program and policy development, research and analysis, enterprise data management, corporate solutions and reporting, and strategic and national-level planning.
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Read more on 'LMI To Expand Support of the Marine Corps Logistics Command 'Press Release
LMI To Expand Support of the Marine Corps Logistics Command
LMI will continue to provide strategic support to the United States Marine Corps Logistics Command with a new, one-year award. This will greatly aid the Marine Corps with inventory management using the ASM® Sparing Model, proprietary software and capabilities, and budget stratification tools.
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Read more on 'LMI to Continue Support of DLA R&D Efforts 'Press Release
LMI to Continue Support of DLA R&D Efforts
LMI will continue supporting the Defense Logistics Agency by providing cutting-edge innovations to improve its technology and business processes. LMI will furnish support in the areas of planning, procurement, product quality, technical data, and data management.
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Read more on 'LMI to Continue Army Enterprise Systems Integration Program Support 'Press Release
LMI to Continue Army Enterprise Systems Integration Program Support
LMI will continue to provide program management, business transformation, technical, and professional advisory services to the Project Manager, Army Data and Analytics Platforms (PM ARDAP), with a new three-year, $211 million award. LMI’s capabilities will enable the Army to modernize business operations and implement integrated management systems to transform Army enterprise resource planning and data systems.
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Read more on 'Resources To Navigate the Age of COVID-19 'Pandemic Response Support
Resources To Navigate the Age of COVID-19
Visit our resource center for the latest information and insights to help our federal clients navigate the age of COVID-19.
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Read more on 'LMI Builds the Next Generation of DoD Civilian Scientists and Engineers with the SMART Scholarship-for-Service Program 'Press Release
LMI Builds the Next Generation of DoD Civilian Scientists and Engineers with the SMART Scholarship-for-Service Program
LMI has been awarded a new five-year, $450 million contract supporting the Department of Defense’s Science, Mathematics, and Research for Transformation (DoD SMART) Scholarship-for-Service Program.
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Read more on 'LMI Joins Digital Manufacturing Institute MxD 'Press Release
LMI Joins Digital Manufacturing Institute MxD
LMI has joined MxD, one of 14 national institutes sponsored by the federal government to strengthen American manufacturing competitiveness.
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Read more on 'LMI Awarded Larger Role Supporting Defense Acquisition and Sustainment 'Press Release
LMI Awarded Larger Role Supporting Defense Acquisition and Sustainment
LMI will support defense officials who oversee acquisition, capability development, and lifecycle support of critical weapons systems.
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Read more on 'LMI Awarded JAIC Artificial Intelligence Center BPA 'Press Release
LMI Awarded JAIC Artificial Intelligence Center BPA
LMI has been selected as a Joint Artificial Intelligence Center (JAIC) Test & Evaluation (T&E) Blanket Purchase Agreement (BPA) awardee.
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Read more on 'LMI Awarded DHA's OMNIBUS IV IDIQ Contract in All Four Market Segments 'Press Release
LMI Awarded DHA's OMNIBUS IV IDIQ Contract in All Four Market Segments
LMI has been awarded the Defense Health Agency (DHA) OMNIBUS IV indefinite delivery, indefinite quantity (IDIQ) $10 billion contract in all four market segments: (1) Research and Development; (2) Research and Development Support Services; (3) Regulatory Processes; and (4) Translational Science Support and Services.
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Read more on 'LMI and TCS Uncover Climate Risks to F-35, Announce Enhanced Climanomics Platform 'Press Release
LMI and TCS Uncover Climate Risks to F-35, Announce Enhanced Climanomics Platform
Coastal flooding, temperature extremes, and storm damage could significantly disrupt the availability of facilities supporting the F-35 weapon system over the next 30 years, according to a joint analysis by LMI and The Climate Service (TCS).
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Read more on 'LMI and Exiger to Lead DLA Pilot Program 'Press Release
LMI and Exiger to Lead DLA Pilot Program
LMI announced today that it, along with Exiger, has been awarded a contract to create a DLA pilot program to illuminate supply chain resiliency using AI/ML.
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Read more on 'LMI to Advise NASA on Future Automation in the Air Cargo Industry 'Press Release
LMI to Advise NASA on Future Automation in the Air Cargo Industry
LMI and its partners will conduct a future-focused research study that will inform federal regulatory and investment decisions.
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Read more on 'Joe Niehaus and Zaki Saleh Join LMI’s Senior Leadership Team 'Press Release
Joe Niehaus and Zaki Saleh Join LMI’s Senior Leadership Team
LMI promoted Joe Niehaus to senior vice president of the logistics service line and welcomes Zaki Saleh as senior vice president of the health & civilian market.
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Read more on 'Bruce Kaplan 'Our Team
Bruce Kaplan
With more than 35 years of experience in program management, source selection, information systems requirements and tools, and supply chain logistics, Bruce is one of LMI’s leading innovators and solution architects. He focuses on processes and technologies that cross organizational and functional boundaries to improve customer outcomes.
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Read more on 'Better Decisions Leveraging Existing Data: LMI’s Approach to Evidence Act Evaluations 'Insights
Better Decisions Leveraging Existing Data: LMI’s Approach to Evidence Act Evaluations
LMI established and implemented tools and approaches to assist evaluations officers in scoring and selecting evaluation topics, creating annual evaluation plans, and executing discrete evaluations.
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Read more on 'Data Analytics Can Address the U.S. Substance Abuse Crisis 'Insights
Data Analytics Can Address the U.S. Substance Abuse Crisis
Substance abuse is on the rise in America, but the federal government has an opportunity to leverage data analytics for an effective response.
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Read more on 'Calculating Your Water Footprint to Improve Resilience 'Innovation at the Pace of Need™
Calculating Your Water Footprint to Improve Resilience
One way to calculate an organization’s water footprint is to literally measure the water used at a facility or series of facilities. But what happens when operations are far more complicated?
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Read more on 'COVID-19: What Suppliers Can Do Now 'Perspective
COVID-19: What Suppliers Can Do Now
How to stay strategic as the pandemic’s ripple effect grows.
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Read more on 'Addressing Complex Problems 'Culture News
Addressing Complex Problems
During his 30-year tenure at LMI, Bruce Kaplan has used his expertise in defense logistics and research and development to help LMI and its clients succeed. With a strong commitment to innovation and exceeding customer expectations, Bruce has led efforts to modernize logistics through finding, developing, and pushing pioneering technologies. Learn about Bruce’s role as a logistics strategy and integration fellow and his plans to continue making a positive difference at LMI.
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Read more on 'Changes to Construction Permits for Projects near Bodies of Water 'Perspective
Changes to Construction Permits for Projects near Bodies of Water
If you have construction projects taking place near or in any bodies of water, you urgently need to evaluate your project plan. The U.S. Army Corps of Engineers announced reauthorization of the Nationwide Permits (NWPs), which could impact construction projects in progress or soon to be underway.