Demand and Inventory Planning Success Stories

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Draped in Success – Inventory Planning at Rose Brand

Draped in Success – Inventory Planning at Rose Brand

Rose Brand selected demand and inventory planning software from Smart Software as the foundation for a methodical planning process. Rose Brand is North America’s largest provider of theatrical fabrics, fabrications and production supplies for the entertainment, event and display industries.

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Recent Posts

  • Mature bearded mechanic in uniform examining the machine and repairing it in factoryPlanning for Consumable vs. Repairable Parts
    When deciding on the right stocking parameters for spare and replacement parts, it is important to distinguish between consumable and repairable parts. These differences are often overlooked by inventory planning software and can result in incorrect estimates of what to stock. Different approaches are required when planning for consumables vs. repairables. […]
  • Four Common Mistakes when Planning Replenishment TargetsFour Common Mistakes when Planning Replenishment Targets
    How often do you recalibrate your stocking policies? Why? Learn how to avoid key mistakes when planning replenishment targets by automating the process, recalibrating parts, using targeting forecasting methods, and reviewing exceptions. […]
  • Smart Software is pleased to introduce our series of webinars, offered exclusively for Epicor Users.Extend Epicor Kinetic’s Forecasting & Min/Max Planning with Smart IP&O
    Epicor Kinetic can manage replenishment by suggesting what to order and when via reorder point-based inventory policies. The problem is that the ERP system requires that the user either manually specify these reorder points, or use a rudimentary “rule of thumb” approach based on daily averages. In this article, we will review the inventory ordering functionality in Epicor Kinetic, explain its limitations, and summarize how to reduce inventory, and minimize stockouts by providing the robust predictive functionality that is missing in Epicor. […]
  • Scenario based Forecasting vs EquationsScenario-based Forecasting vs. Equations
    Traditionally, software has served as a delivery vehicle for equations. This is fine, as far as it goes. But we at Smart Software think you would do better by trading in your equations for scenarios. Learn why Scenario-based planning helps planners better manage risk and create better outcomes. […]
  • Extend Microsoft 365 BC and NAV with Smart IP&OExtend Microsoft 365 BC and NAV with Smart IP&O
    Microsoft 365 BC and NAV can manage replenishment by suggesting what to order and when via reorder point-based inventory policies. The problem is that the ERP system requires that the user manually specify these reorder points and/or forecasts. In this article, we will review the inventory ordering functionality in Microsoft BC & NAV, explain its limitations, and summarize how to reduce inventory, and minimize stockouts by providing the robust predictive functionality that is missing in Dynamics 365. […]

    Inventory Optimization for Manufacturers, Distributors, and MRO

    • Blanket Orders Smart Software Demand and Inventory Planning HDBlanket Orders
      Our customers are great teachers who have always helped us bridge the gap between textbook theory and practical application. A prime example happened over twenty years ago, when we were introduced to the phenomenon of intermittent demand, which is common among spare parts but rare among the finished goods managed by our original customers working in sales and marketing. This revelation soon led to our preeminent position as vendors of software for managing inventories of spare parts. Our latest bit of schooling concerns “blanket orders.” […]
    • Hand placing pieces to build an arrowProbabilistic Forecasting for Intermittent Demand
      The New Forecasting Technology derives from Probabilistic Forecasting, a statistical method that accurately forecasts both average product demand per period and customer service level inventory requirements. […]
    • Engineering to Order at Kratos Space – Making Parts Availability a Strategic Advantage
      The Kratos Space group within National Security technology innovator Kratos Defense & Security Solutions, Inc., produces COTS s software and component products for space communications - Making Parts Availability a Strategic Advantage […]
    • wooden-figures-of-people-and-a-magnet-team-management-warehouse inventoryManaging the Inventory of Promoted Items
      In a previous post, I discussed one of the thornier problems demand planners sometimes face: working with product demand data characterized by what statisticians call skewness—a situation that can necessitate costly inventory investments. This sort of problematic data is found in several different scenarios. In at least one, the combination of intermittent demand and very effective sales promotions, the problem lends itself to an effective solution. […]

      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.

      Smart Inventory Optimization

      Reduce Excess Stock

      Optimal Inventory Levels

      Reduce excess stock
      Improve service levels
      Minimize buyer transactions
      Maximize return on assets

      Identify Stockout Risk

      Organizational Consensus

      Balance service levels
      Identify stockout risk
      Identify overstocks
      No finger-pointing

      Inventory Warehouse Connectivity

      Operational Connectivity

      Align process with strategic objectives
      Empower team to “make it so”
      Optimize as conditions change
      Pass results to ERP

      Who is Inventory Optimization for?

      Smart Inventory Optimization is for executives and business savvy planners who seek to:

      • Yield maximum returns from inventory assets.
      • Address the problem of highly variable or intermittent demand.
      • Broker the service vs. cost tradeoffs between different departments.
      • Develop a repeatable and efficient inventory planning process.
      • Empower the team to ensure operational plan is aligned with strategic plan.
      What questions can Inventory Optimization answer?
      • What is the best service level achievable with the inventory budget?
      • What service levels will yield the maximum return?
      • If lead times increased, what would it cost to maintain service?
      • If I reduce inventory, what will the impact on service be?
      • If order quantity increases, what will the impact on service and costs be?
      • What is the order quantity that balances holding and ordering costs?
      Inventory forecasting for the inventory executive

      Smart Inventory Optimization empowers you to:

      • Predict service performance and inventory costs.
      • Assess business impact of “what-if” inventory policies.
      • Align inventory policy with corporate strategy.
      • Establish an operational framework that guides the planning team.
      • Reduce inventory and improve service.

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