Demand Forecasting & Inventory Optimization

Solutions for Manufacturers, Distributors, and MRO

For over 40 years, Smart Software has helped customers accurately plan for what comes next. Our inventory optimization, forecast modeling, consensus demand planning, and analytics solutions enable supply chain leaders to wield inventory as a competitive asset, improve demand forecast accuracy, and drive better outcomes for their businesses.

Smart IP&O, a modular platform for Inventory Planning & Optimization

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Testimonials

Public Transportation Railroad Metro Service parts

 

“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.”

Chief Material Officer, Metro-North Railroad

 

Logo Impressart

 

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.

 

CEO, Impress Art

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

 Customers Using our Demand and Inventory Forecasting Software

MRO & Aftermarket Spare Parts

Manufacturing

Distribution

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.

Pursuing best practices in Demand Forecasting and Inventory Optimization

Assessing How Suppliers Influence Your Inventory Costs

Assessing How Suppliers Influence Your Inventory Costs

Software for inventory optimization is most often used to crank out the analytical results you need to run your day-to-day business, such as Reorder Points (also known as Mins) and Order Quantities. This specialized software helps you find the sweet spot that balances inventory costs against item availability during routine operations.

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Managing Inventory amid Regime Change

Managing Inventory amid Regime Change

If you hear the phrase “regime change” on the news, you immediately think of some fraught geopolitical event. Statisticians use the phrase differently, in a way that has high relevance for demand planning and inventory optimization. This blog is about “regime change” in the statistical sense, meaning a major change in the character of the demand for an inventory item.

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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.