Smart eLearning Platform

Improve Demand & Inventory Planning

PODCASTS: Best practices for Demand Forecasting, and Inventory Planning.

Over the course of these podcast series, you’ll be able to identify opportunities to Optimize Inventory, Improve Forecast Accuracy, and Increase Revenue. We are offering these Podcasts due to our previous video Series’s popularity featuring Dr. Thomas Willemain, co-Founder and SVP Research at Smart Software. Armed with this information, you’ll be able to:

  • Compare the three most used inventory control policies.
  • Determine how much to order or manufacture and when (MRP logic).
  • Use a specialized algorithmic tournament to estimate the parameters to compute the best forecasts methods.
  • Compare the most helpful Forecasting Techniques.
  • Identify and harness leading indicators to achieve more accurate forecasts.
Research Vice President Forecasting Guru Tom Willemain

TOP 3 INVENTORY POLICIES

3 INVENTORY POLICIES COMPLETE PODCAST

3 INVENTORY POLICIES 1 PERIODIC REVIEW POLICY

3 INVENTORY POLICIES 2 ORDER QUANTITY AND REORDER POINT

3 INVENTORY POLICIES 3 MIN-MAX

POLICY FORECAST BASED 1_INTRO  INVENTORY MANAGEMENT

FORECAST BASED INVENTORY MANAGEMENT

FORECAST BASED INVENTORY MANAGEMENT COMPLETE PODCAST

FORECAST BASED INVENTORY DYNAMICS

 FORECAST BASED INVENTORY – HOW MUCH AND WHEN TO ORDER 

FORECAST BASED INVENTORY – LEAD TIME

FORECAST BASED INVENTORY –  SAFETY STOCK

AUTOMATIC FORECASTING TECHNIQUES

AUTOMATIC FORECASTING FOR TIME SERIES DEMAND PROJECTIONS

AUTOMATIC FORECASTING COMPLETE PODCAST

AUTOMATIC FORECASTING – FORECAST TOURNAMENT

AUTOMATIC FORECASTING – TOURNAMENT EXAMPLES

AUTOMATIC FORECASTING – BEST TOURNAMENT OPTIONS

AUTOMATIC FORECASTING – DETAILS OF HOLDOUT ANALYSIS 

Achieve Forecast Accuracy by Managing Error

FORECASTING TECHNIQUES

FORECASTING TECHNIQUES COMPLETE PODCAST

FORECASTING TECHNIQUES – SINGLE EXPONENTIAL SMOOTHING

FORECASTING TECHNIQUES – THE RIGHT VALUE OF ALPHA

FORECASTING TECHNIQUES – HOLTS METHOD FOR TRENDING DATA

FORECASTING TECHNIQUES – WINTERS METHOD FOR TRENDING DATA

Periodic-Review-regression analysis inventory forecasting

FORECASTING – REGRESSION ANALYSIS  

FORECASTING – REGRESSION ANALYSIS COMPLETE PODCAST

FORECASTING – LINEAR REGRESSION

FORECASTING – AUTO REGRESSION IN BUSINESS

FORECASTING – CAUSAL MODELING REGRESSION IN BUSINESS

FORECASTING – LEADING INDICATOR REGRESSION IN BUSINESS

Best practices for Demand Forecasting, and Inventory Planning.

Examples of the benefits and economic impact

Meet Customer Demand Software

Meet Customer Demand

Accounting for inherent demand patterns such as trend and seasonality as well as external and internal feedback on events/promotions minimizes unexpected sales orders that would otherwise be backordered or lost. A service parts distributor increased perfect order fill rate from 92.5% to 95%.

 

 

Logo Increase Revenue Demand Software

Increase Revenue

Optimizing Inventory Levels means savings realized on one subset of items can be reallocated in order to carry a broader portfolio of “in stock” items allowing revenues to be captured that would otherwise be lost sales. A leading distributor was able to stock a broader portfolio of parts with savings used from inventory reductions and increased part availability by 18%

Logo Reduce Inventory Costs Software

Reduce Inventory Costs

Less critical Items that are forecasted to achieve 99%+ services levels represent opportunities to reduce inventory. By targeting lower service levels on less critical items, inventory will “right size” over time to the new equilibrium decreasing holding costs and value of inventory on hand. A major public transit system Inventory reduced inventory by more than $4,000,000 while improving service levels.

 

Logo Improve Planner Productivity Software

Improve Planner Productivity

By strategically planning the inventory parameters, planners will spend less time managing outputs from their ERP and have more time to focus on value add activities. Considerable time will also be saved by reducing the number of emergency out of stock events that drain resources. A repair service operation reduced the number of emergency shipments on spare parts by 17% in the first year following implementation.

Logo Reduce Product Costs Software

Reduce Product Costs

Forecasting provides a stronger foundation on which to negotiate with vendors. By using statistical forecasts and estimates of best and worst case demand scenarios, expectations between supplier and customer can be established. After collaborating with a major contract manufacturer using the demand forecast as a guide, An aviation equipment contractor reduced material costs on a major product line by $187,000​

Logo Organizational Consensus Software

Organizational Consensus

When you are able to model and communicate expected demand and likely ranges along with the precise tradeoffs between service levels and inventory cost in your strategic inventory plans, you will establish consensus among all the stakeholders. Once true consensus is established, the organization knows where risks are likely, where they are not, and can plan accordingly.

Smart IP&O Application Suite

Smart Demand Planner: Automatic Statistical Forecasting; Multi-Leap Group Forecasting; Collaborative Planning
Smart Inventory Optimization: Optimize RDP, Min, Max, Safety Stock, Order Qty; Reduce Inventory; Increase Service Levels
Smart Operational Analytics: Track Inventory Costs, units, Turn, and Value; Supplier Analysis and Comparison; Measure Historical Service Levels
Contact Us Today for More Information

If you request a demo, one of our specialists will show you how Smart can help, using your own inventory data!


    Name *


    Job Title *


    Company *


    Work Email *


    Phone *


    Send me more information
    Schedule my free demo