MRO & Aftermarket Spare Parts
Manufacturing
Distribution
40 Years of Delivering Field Proven Demand Forecasting and Planning Solutions
Statistical Forecasting
Statistical Forecasting
- Automatically selects the best forecast model.
- Predicts seasonality and trend.
- Forecast override and accuracy workbench.
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Inventory Optimization
Inventory Optimization
- Optimize stocking policies across the distribution network.
- Predict service levels, fill rates, inventory value, and track historical KPIs.
- Conduct what if scenarios that calibrate risks, consequences, and tradeoffs.
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Demand Planning
Demand Planning
- Forecast at multiple levels including family, customer, and region.
- Import external forecasts and track value-add.
- Develop a consensus plan bridging business knowledge and statistics.
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Spare Parts Planning
Spare Parts Planning
- Patented probabilistic methodology for intermittent demand.
- Simulate the inflow and outflow of repairable spare parts/rotables.
- Planned maintenance and capital project planning & budgeting.
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40 Years of Delivering Field Proven Demand Forecasting and Planning Solutions
Statistical Forecasting
- Automatically selects the best forecast model.
- Predicts seasonality and trend.
- Forecast override and accuracy workbench.
Read More
Inventory Optimization
- Optimize stocking policies across the distribution network.
- Predict service levels, fill rates, inventory value, and track historical KPIs.
- Conduct what if scenarios that calibrate risks, consequences, and tradeoffs.
Read More
S&OP / IBP
- Align unit forecasts with the revenue plan at any level of the business.
- Identify and reconcile gaps between the budgeted plan and reality.
- Coordinate supply, demand, and budget.
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Demand Planning
- Forecast at multiple levels including family, customer, and region.
- Import external forecasts and track value-add.
- Develop a consensus plan bridging business knowledge and statistics.
Read More
Spare Parts Planning
- Patented probabilistic methodology for intermittent demand.
- Simulate the inflow and outflow of repairable spare parts/rotables.
- Planned maintenance and capital project planning & budgeting.
Read More
ML, Analytics, and Reporting
- Build, train, and deploy ML models for multiple use cases.
- Drive proactive and rapid response with exception reporting.
- Develop custom AI infused BI reports with pre-built data models.
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Uncertainty is expensive.
But with Smart, you’ll be ready for whatever comes next.
- Generate accurate demand forecasts and optimal stocking policies in seconds.
- Know how much is too much and when to add more.
- Understand the cost vs. benefit of each inventory decision.
- Wield inventory as a competitive asset.
- Drive up service levels, and drive down costs.
How the Smart IP&O Platform Can Help
Testimonials
“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 continued growth in our inventory and not necessarily gotten any greater benefit for service.”
“I studied all the best practices from numerous sources and found that Smart’s approach was addressing everything. Smart is helping me save time and automate the inventory planning process, which ultimately is helping me scale our business. We now have a great inventory planning and forecasting process generating measurable value that can be plugged into whatever ERP we choose.”
Chief Executive Officer
“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.”
Pursuing best practices in Demand Forecasting and Inventory Optimization
Why MRO Businesses Should Care About Excess Inventory
Do MRO companies genuinely prioritize reducing excess spare parts inventory? From an organizational standpoint, our experience suggests not necessarily. Boardroom discussions typically revolve around expanding fleets, acquiring new customers, meeting service level agreements (SLAs), modernizing infrastructure, and maximizing uptime. In industries where assets supported by spare parts cost hundreds of millions or generate significant revenue (e.g., mining or oil & gas), the value of the inventory just doesn’t raise any eyebrows, and organizations tend to overlook massive amounts of excessive inventory.
Innovating the OEM Aftermarket with AI-Driven Inventory Optimization
The aftermarket sector provides OEMs with a decisive advantage by offering a steady revenue stream and fostering customer loyalty through the reliable and timely delivery of service parts. However, managing inventory and forecasting demand in the aftermarket is fraught with challenges, including unpredictable demand patterns, vast product ranges, and the necessity for quick turnarounds. Traditional methods often fall short due to the complexity and variability of demand in the aftermarket. The latest technologies can analyze large datasets to predict future demand more accurately and optimize inventory levels, leading to better service and lower costs.
12 Causes of Overstocking and Practical Solutions
Managing inventory effectively is critical for maintaining a healthy balance sheet and ensuring that resources are optimally allocated. Here is an in-depth exploration of the main causes of overstocking, their implications, and possible solutions.
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.
Software for statistical forecasting, demand planning, and inventory optimization.
Product Feature Comparison
