Demand Forecasting & Inventory Optimization

Solutions for Manufacturers, Distributors, and MRO

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Optimized Stock Levels

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

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Spare Parts Planning

 Increase machine uptime, service levels, and reduce MRO inventory

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Collaborative Forecasting

Improve forecast accuracy and business planning

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

Smart Planner Demand Forecasting Inventory Optimization
Demand Forecasting and Inventory Optimization
Smart Supply Planner Inventory Management Software 1
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

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

 

 

“Smart IP&O enabled us to model demand at each stocking location and, using service level-driven planning, determine how much to stock to achieve the service level we require.  By running and comparing different scenarios we can easily define and update optimal stocking policies for each tech support rep and stockrooms.”

Purchasing Manager, Seneca Companies

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

5 Demand Planning Tips for Calculating Forecast Uncertainty

5 Demand Planning Tips for Calculating Forecast Uncertainty

Those who produce forecasts owe it to those who consume forecasts, and to themselves, to be aware of the uncertainty in their forecasts. This note is about how to estimate forecast uncertainty and use the estimates in your demand planning process. We focus on forecasts made in support of demand planning as well as forecasts inherent in optimizing inventory policies involving reorder points, safety stocks, and min/max levels.

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Stop Leaking Money with Manual Inventory Controls

Stop Leaking Money with Manual Inventory Controls

An inventory professional who is responsible for 10,000 items has 10,000 things to stress over every day. Double that for someone responsible for 20,000 items. In the crush of business, routine decisions often take second place to fire-fighting: dealing with supplier hiccups, straightening out paperwork mistakes, recovering from that collision between a truck and the loading dock.

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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.