Users can access the API and explore its inputs and outputs by visiting https://optimize.sscostmodel.com through a web-based interface. For additional details and insights, we invite you to explore our blog at https://www.sscostmodel.com.

admd: Average Daily Demand. This represents the average number of units sold daily. For instance, if 32 tires are sold daily on average, this figure would be 32.

lt: Lead Time. Refers to the duration between the placement of an order for a product and its actual receipt, making it ready for use or sale. As an example, if a tire order is placed and it takes 9 days for delivery from the supplier, the lead time is 9 days.

Daily Demand Standard Deviation: std This metric measures the variability in daily demand. For instance, if the daily demand for tires fluctuates with a standard deviation of 16, this value would be 16.

mrgn: Margin. This is the percentage by which the sale price exceeds the cost paid to the supplier. To illustrate, if a company procures a tire from a supplier for $60 and sells it for $90, the margin is calculated as (90-60)/60, which is 0.5 or 50%.

pen: Penalty. In specific sectors, notably aerospace, contracts might stipulate that companies pay a penalty if they cannot fulfill an order. For example, if a firm cannot deliver ordered tires, they might have to pay a penalty equivalent to 40% (or 0.4) of the unfulfilled tire’s value.

ir: Annual Interest Rate. Illustrated as 0.12 for 12%. This represents the opportunity cost associated with holding inventory, as those funds could otherwise earn interest. This cost can be referred to as the financial carrying cost.

accost: Annual Carrying Cost Percentage. This relates to the annual expenses incurred from physically handling and storing inventory. These expenses cover aspects such as storage, handling, utilities, potential obsolescence, theft, among others. Notably, many companies might not possess exact figures for these carrying costs. The costs often vary based on the product type, generally falling within a range of 20% to 40% (0.2 to 0.4), though they can sometimes exceed this range.

Python Example 1

import requests

url = ‘https://inventory28.p.rapidapi.com/inventory/bestsafetystock’

headers = {
‘X-RapidAPI-Key’: ‘your-api-key-here’
}

params = {
‘admd’: 100,
‘lt’: 0,
‘std’: 10,
‘mrgn’: 0.6,
‘pen’: 0.1,
‘ir’: 0.05,
‘accost’: 0.8
}

response = requests.get(url, headers=headers, params=params)

print(response.text)

Curl Command Example
curl -G “https://inventory28.p.rapidapi.com/inventory/bestsafetystock”
-H “X-RapidAPI-Key: your-api-key-here’”
–data-urlencode “admd=100”
–data-urlencode “lt=0”
–data-urlencode “std=10”
–data-urlencode “mrgn=0.6”
–data-urlencode “pen=0.1”
–data-urlencode “ir=0.05”
–data-urlencode “accost=0.8”