What Does SOM Stand For?
SOM stands for Spares OPtimization Model
The Spares Optimization Model (SOM) is a strategic framework designed to enhance inventory management and reduce costs associated with spare parts procurement and storage. By leveraging advanced algorithms and predictive analytics, SOM forecasts demand, optimizes stock levels, and ensures the availability of critical components while minimizing excess inventory. This model aims to improve operational efficiency, streamline supply chain processes, and support decision-making in maintenance and resource planning.
Added on 14th April 2008 | Last edited on 16th June 2025 | Edit Acronym