SmartForecasts to accurately forecast future parts usage at 14 inventory stocking locations
Belmont, Mass., August 6, 2014 – Smart Software, Inc., leading provider of service level-driven demand planning, today announced that, in a public bidding process, Minnesota’s Metro Transit purchased its flagship product, SmartForecasts®. Smart’s solution has a unique technology for accurately forecasting intermittent demand, solving a critical parts planning challenge for transit systems. In addition to software, Smart Software will provide Metro Transit with consulting, training, and ongoing support services.
The Materials Management Department at Metro Transit will use the software to improve the planning and purchasing of service parts for its bus and rail operations. Many of the company’s parts exhibit hard-to-forecast intermittent demand. The erratic nature of its parts consumption requires an inventory planning system that is easy to use, accurately forecasts future parts usage, and provides reliable inputs into its replenishment process.
Metro Transit is the public transportation system for the Greater Minneapolis/St. Paul, metropolitan area in Minnesota. In 2013, Metro Transit provided 81.4 million bus, commuter rail, and light rail rides on over 128 routes. The company stocks 24,000 parts valued at approximately $42 million which support over 1,000 vehicles. Repair operations are supported by a central warehouse and a network of 13 stocking locations spread throughout the region.
Using service-level driven demand planning techniques enabled by SmartForecasts, Metro Transit’s material planners will know the proper amount of inventory to carry for all parts in all warehouses to meet its challenging service levels.This will be especially important for intermittently demanded items which cannot be forecasted using traditional planning methods. Expected benefits include more effective and less costly resource allocation and increased parts availability to sustain ongoing operations. SmartForecasts will interface with Metro Transit’s Fleetworks ERP system, which handles the parts purchasing function.
“Metro Transit’s ridership has increased by over 5 million rides in the last 4 years. Ensuring a high level of customer service has never been more important,”said Greg Hartunian, president of Smart Software. “Using SmartForecasts to help accurately forecast parts inventory requirements and better understand service vs. financial tradeoffs will help Metro Transit continue to maximize service at a minimum cost.”
Metro Transit joins a number of leading transportation systems in its decision to implement SmartForecasts, including Metro North Railroad, Montreal Transit, and New Jersey Transit.
About Smart Software, Inc.
Founded in 1981, Smart Software, Inc. is a leading provider of enterprise-wide demand forecasting, planning and inventory optimization solutions. Smart Software’s flagship product, SmartForecasts, has thousands of users worldwide, including customers at mid-market enterprises and Fortune 500 companies, such as Abbott Laboratories, Metro-North Railroad, Siemens, Disney, Nestle, Nikon, GE and The Coca-Cola Company. Smart Software is headquartered in Belmont, Massachusetts and can be found online at www.smartsoftware.wpengine.com .
SmartForecasts is a registered trademark of Smart Software, Inc. All other trademarks are the property of their respective owners.
For more information, please contact Smart Software, Inc., Four Hill Road, Belmont, MA 02478.
Phone: 1-800-SMART-99 (800-762-7899); FAX: 1-617-489-2748; E-mail: info@smartsoftware.wpengine.com
