Demand Forecasting & Inventory Optimization

Field Proven Solutions for Manufacturers, Distributors, and MRO

Optimized Stock Levels

Ship on time and in full with risk-adjusted reorder points

Spare Parts Planning

Increase machine uptime, service levels, and reduce MRO inventory

Collaborative Forecasting

Improve forecast accuracy and business planning

Improve Forecast Accuracy, Eliminate Excess Inventory, & Maximize Service Levels

Smart Planner Demand Forecasting Inventory Optimization
Demand Forecasting and Inventory Optimization
Smart Operational Analytics: Track Inventory Costs, units, Turn, and Value; Supplier Analysis and Comparison; Measure Historical Service Levels

How the Smart IP&O Platform Can Help

Smart IP&O, a Digital Supply Chain Platform

Cloud Native Platform

A single, secure, and scalable native cloud platform with multiple end user Apps that helps you predict accurately, protect against uncertainty, and plan efficiently.

Intermittent Demand Planning

Engineered for intermittent demand, Smart’s field proven methods succeed on even the hardest to forecast, anything but normal, unplannable items.

Automate Supply Chain Decisions

You’ll build automated, exception based plans that adapt and respond to frequently changing business conditions while doing away with time intensive manual planning.

Collaborative Planning

Share collaborative “what if” demand forecasts, inventory policies and develop an authorized consensus plan aligned to achieve business objectives.    

Probabilistic Forecasting

Predict a range of outcomes and the probability for each possibility to accurately prescribe risk adjusted stocking policies that optimally balance service levels and cost.

Smart ERP Integrations

Seamlessly integrate with your system of record with an automated bi-directional data exchange that ensures alignment between planning policies and execution.   

Testimonials

“Whatever the request, we need to meet our next day service commitment – Smart enables us to risk adjust our inventory, to be sure we have the products and parts on hand to achieve the service levels our customers require.”

 

 

 

Manager of Materials Management, FedEx TechConnect

 

BC TRANSIT

 

“Smart’s service level planning methodology has led to productive conversations between sales and supply chain and given us a platform or common ground from which we base our discussions.”

 

 

 

Purchasing Manager , Forum Energy Technologies

BC TRANSIT

“Smart IP&O allowed us to transform our manually maintained stocking levels to a service level-based model that drove significant improvements in fill rates while optimizing total inventory on hand.  The accurate forecasts of stocking levels provided fact-based data that allowed us to strategically phase the consolidation effort where warehouse space was at a premium.”

Manager Part Supply and Logistics, BC Transit

Demand Forecasting and Inventory Optimization for Manufacturers, Distributors and MRO

Spare Parts

Industrial Equipment

Manufacturing

Transportation

Pursuing best practices in Demand Forecasting and Inventory Optimization for Manufacturers and MRO

Managing Demand Variability

Managing Demand Variability

Anybody doing the job knows that managing inventory can be stressful. Common stressors include: Customers with “special” requests, IT departments with other priorities, balky ERP systems running on inaccurate data, raw material shortages, suppliers with long lead times in far-away countries where production often stops for various reasons and more. This note will address one particular and ever-present source of stress: demand variability.

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Top 3 Most Common Inventory Control Policies

Top 3 Most Common Inventory Control Policies

To make the right decision, you’ll need to know how demand forecasting supports inventory management, choice of which policy to use, and calculation of the inputs that drive these policies.The process of ordering replenishment stock is sufficiently expensive and cumbersome that you also want to minimize the number of purchase orders you must generate.

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AUTOMATED STATISTICAL ANALYSIS DRIVES INVENTORY MANAGEMENT

Inventory managers struggle with the conflicting priorities of customer satisfaction and cost control. The featured article shows how to harness customer demand data to craft optimal inventory policies:

Measure current inventory policy performance: service levels, fill rates, inventory turns, and ordering costs.

Identify improvement goals: Assessing tradeoffs between inventory investment and the risk of running out.

Find the optimal balance point: Setting reorder points and order quantities that will achieve the results you require and much more in this article.

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    What Do You Need to Know About Forecasting and Planning Service Parts?

    This paper describes Smart Software’s patented methodology for forecasting demand, safety stocks, and reorder points on items such as service parts and components with intermittent demand, and provides several examples of customer success.