Smart Inventory Planning & Optimization

Predict Accurately, Optimize Continuously

Inventory Optimization

Maximize service and minimize costs

Demand Planning

Forecasting and managing uncertain demand

Analytics and Reporting

Monitor operations and supply chain performance

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

Smart Demand Planner: Automatic Statistical Forecasting; Multi-Leap Group Forecasting; Collaborative Planning
Smart Inventory Optimization: Optimize RDP, Min, Max, Safety Stock, Order Qty; Reduce Inventory; Increase Service Levels
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

Powered by field proven statistics, machine learning and probabilistic forecasting 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

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

“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

“Smart is the only one out there that has really licked the intermittent demand modeling challenge. We get accurate information and more importantly at the lowest dollar. Without Smart, I think we would have seen a continued growth in our inventory and not necessarily gotten any greater benefit for service.”

 

Chief Material Officer, Metro-North Railroad

Industry Focus

Spare Parts

Industrial Equipment

Manufacturing

Transportation

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.

Get 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.