Improve Forecast Accuracy, Eliminate Excess Inventory, & Maximize Service Levels
Smart Software’s Inventory Planning and Optimization Platform (Smart IP&O) offers a single, easy to use, and scalable native cloud platform for collaborative demand planning, forecasting, and inventory optimization. Specializing in intermittent demand planning, we extend beyond traditional forecasting by leveraging probability modeling to drive inventory strategy and consensus demand planning. Smart IP&O predicts continuously, leveraging field-proven models to forecast demand and lead times, predict excess and out-of-stocks, monitor inventory performance, and optimize planning parameters. Smart IP&O seamlessly returns accurate forecasts and optimized stocking policies to your ERP system to reduce inventory, increase service levels, and ensure alignment between your inventory policy and business strategy.
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.
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.