[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.16″ height_last_edited=”off|phone” max_height_tablet=”” max_height_phone=”” max_height_last_edited=”on|phone” z_index_tablet=”500″ box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” locked=”off” global_colors_info=”{}”][et_pb_fullwidth_slider show_pagination=”off” use_bg_overlay=”off” use_text_overlay=”off” disabled_on=”off||” module_class=”lllllll” _builder_version=”4.19.4″ header_level=”h1″ background_position=”top_left” content_width=”100%” height=”476px” height_tablet=”386px” height_phone=”275px” height_last_edited=”on|tablet” max_height=”540px” max_height_tablet=”428px” max_height_phone=”350px” max_height_last_edited=”on|phone” custom_padding=”|||” auto=”on” auto_speed=”5500″ z_index_tablet=”500″ header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” body_text_shadow_horizontal_length_tablet=”0px” body_text_shadow_vertical_length_tablet=”0px” body_text_shadow_blur_strength_tablet=”1px” body_link_text_shadow_horizontal_length_tablet=”0px” body_link_text_shadow_vertical_length_tablet=”0px” body_link_text_shadow_blur_strength_tablet=”1px” body_ul_text_shadow_horizontal_length_tablet=”0px” body_ul_text_shadow_vertical_length_tablet=”0px” body_ul_text_shadow_blur_strength_tablet=”1px” body_ol_text_shadow_horizontal_length_tablet=”0px” body_ol_text_shadow_vertical_length_tablet=”0px” body_ol_text_shadow_blur_strength_tablet=”1px” body_quote_text_shadow_horizontal_length_tablet=”0px” body_quote_text_shadow_vertical_length_tablet=”0px” body_quote_text_shadow_blur_strength_tablet=”1px” button_text_shadow_horizontal_length_tablet=”0px” button_text_shadow_vertical_length_tablet=”0px” button_text_shadow_blur_strength_tablet=”1px” box_shadow_style=”preset6″ box_shadow_blur=”10px” box_shadow_color=”rgba(0,0,0,0.1)” box_shadow_horizontal_image_tablet=”0px” box_shadow_vertical_image_tablet=”0px” box_shadow_blur_image_tablet=”40px” box_shadow_spread_image_tablet=”0px” box_shadow_horizontal_button_tablet=”0px” box_shadow_vertical_button_tablet=”0px” box_shadow_blur_button_tablet=”40px” box_shadow_spread_button_tablet=”0px” text_shadow_horizontal_length_tablet=”0px” text_shadow_vertical_length_tablet=”0px” text_shadow_blur_strength_tablet=”1px” show_inner_shadow=”on” global_colors_info=”{}” button_text_size__hover_enabled=”off” button_text_size__hover=”null” button_one_text_size__hover_enabled=”off” button_one_text_size__hover=”null” button_two_text_size__hover_enabled=”off” button_two_text_size__hover=”null” button_text_color__hover_enabled=”off” button_text_color__hover=”null” button_one_text_color__hover_enabled=”off” button_one_text_color__hover=”null” button_two_text_color__hover_enabled=”off” button_two_text_color__hover=”null” button_border_width__hover_enabled=”off” button_border_width__hover=”null” button_one_border_width__hover_enabled=”off” button_one_border_width__hover=”null” button_two_border_width__hover_enabled=”off” button_two_border_width__hover=”null” button_border_color__hover_enabled=”off” button_border_color__hover=”null” button_one_border_color__hover_enabled=”off” button_one_border_color__hover=”null” button_two_border_color__hover_enabled=”off” button_two_border_color__hover=”null” button_border_radius__hover_enabled=”off” button_border_radius__hover=”null” button_one_border_radius__hover_enabled=”off” button_one_border_radius__hover=”null” button_two_border_radius__hover_enabled=”off” button_two_border_radius__hover=”null” button_letter_spacing__hover_enabled=”off” button_letter_spacing__hover=”null” button_one_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover=”null” button_two_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover=”null” button_bg_color__hover_enabled=”off” button_bg_color__hover=”null” button_one_bg_color__hover_enabled=”off” button_one_bg_color__hover=”null” button_two_bg_color__hover_enabled=”off” button_two_bg_color__hover=”null”][et_pb_slide heading=”Intermittent Demand Planning” button_link=”https:\/\/smartcorp.com\/smart-platform\/” use_bg_overlay=”off” use_text_overlay=”off” heading_tablet=”Intermittent Demand Planning and Parts Forecasting” heading_phone=”Intermittent Demand Forecasting” heading_last_edited=”on|phone” content_tablet=”<\/p>\n
” content_phone=”” content_last_edited=”on|desktop” _builder_version=”4.19.4″ header_font=”||||” header_text_align=”right” body_font=”||||” background_color=”#ffffff” background_enable_color=”on” background_image=”https:\/\/smartcorp.com\/wp-content\/uploads\/2023\/01\/Intermittent-demand-planning-and-Forecasting-for-spare-parts.jpg” background_enable_image=”on” button_on_hover=”on” custom_padding=”0px|0px|0px|0px|false|false” background_last_edited=”on|phone” background_color_gradient_direction_tablet=”180deg” background_color_gradient_direction_phone=”180deg” background_color_gradient_stops_tablet=”#2b87da 0%|#29c4a9 100%” background_color_gradient_stops_phone=”#2b87da 0%|#29c4a9 100%” background_color_gradient_start_position_tablet=”0%” background_color_gradient_start_position_phone=”0%” background_color_gradient_end_position_tablet=”100%” background_color_gradient_end_position_phone=”100%” background_image_phone=”https:\/\/smartcorp.com\/wp-content\/uploads\/2022\/11\/Mobile-Header.jpg” background_enable_image_phone=”on” child_filter_hue_rotate_tablet=”0deg” child_filter_hue_rotate_phone=”0deg” child_filter_saturate_tablet=”100%” child_filter_saturate_phone=”100%” child_filter_brightness_tablet=”100%” child_filter_brightness_phone=”100%” child_filter_contrast_tablet=”100%” child_filter_contrast_phone=”100%” child_filter_invert_tablet=”0%” child_filter_invert_phone=”0%” child_filter_sepia_tablet=”0%” child_filter_sepia_phone=”0%” child_filter_opacity_tablet=”100%” child_filter_opacity_phone=”100%” child_filter_blur_tablet=”0px” child_filter_blur_phone=”0px” hover_transition_duration_tablet=”300ms” hover_transition_duration_phone=”300ms” hover_transition_delay_tablet=”0ms” hover_transition_delay_phone=”0ms” header_text_shadow_style=”preset3″ header_text_shadow_blur_strength=”0.47em” header_text_shadow_color=”#000933″ header_text_shadow_horizontal_length_tablet=”0em” header_text_shadow_horizontal_length_phone=”0em” header_text_shadow_vertical_length_tablet=”0em” header_text_shadow_vertical_length_phone=”0em” header_text_shadow_blur_strength_tablet=”0em” header_text_shadow_blur_strength_phone=”0em” body_text_shadow_style=”preset3″ body_text_shadow_blur_strength=”0.56em” body_text_shadow_color=”#000933″ body_text_shadow_horizontal_length_tablet=”0em” body_text_shadow_horizontal_length_phone=”0em” body_text_shadow_vertical_length_tablet=”0em” body_text_shadow_vertical_length_phone=”0em” body_text_shadow_blur_strength_tablet=”0em” body_text_shadow_blur_strength_phone=”0em” body_link_text_shadow_horizontal_length_tablet=”0px” body_link_text_shadow_horizontal_length_phone=”0px” body_link_text_shadow_vertical_length_tablet=”0px” body_link_text_shadow_vertical_length_phone=”0px” body_link_text_shadow_blur_strength_tablet=”1px” body_link_text_shadow_blur_strength_phone=”1px” body_ul_text_shadow_horizontal_length_tablet=”0px” body_ul_text_shadow_horizontal_length_phone=”0px” body_ul_text_shadow_vertical_length_tablet=”0px” body_ul_text_shadow_vertical_length_phone=”0px” body_ul_text_shadow_blur_strength_tablet=”1px” body_ul_text_shadow_blur_strength_phone=”1px” body_ol_text_shadow_horizontal_length_tablet=”0px” body_ol_text_shadow_horizontal_length_phone=”0px” body_ol_text_shadow_vertical_length_tablet=”0px” body_ol_text_shadow_vertical_length_phone=”0px” body_ol_text_shadow_blur_strength_tablet=”1px” body_ol_text_shadow_blur_strength_phone=”1px” body_quote_text_shadow_horizontal_length_tablet=”0px” body_quote_text_shadow_horizontal_length_phone=”0px” body_quote_text_shadow_vertical_length_tablet=”0px” body_quote_text_shadow_vertical_length_phone=”0px” body_quote_text_shadow_blur_strength_tablet=”1px” body_quote_text_shadow_blur_strength_phone=”1px” button_text_shadow_horizontal_length_tablet=”0em” button_text_shadow_horizontal_length_phone=”0em” button_text_shadow_vertical_length_tablet=”0em” button_text_shadow_vertical_length_phone=”0em” button_text_shadow_blur_strength_tablet=”0em” button_text_shadow_blur_strength_phone=”0em” box_shadow_horizontal_image_tablet=”0px” box_shadow_horizontal_image_phone=”0px” box_shadow_vertical_image_tablet=”0px” box_shadow_vertical_image_phone=”0px” box_shadow_blur_image_tablet=”40px” box_shadow_blur_image_phone=”40px” box_shadow_spread_image_tablet=”0px” box_shadow_spread_image_phone=”0px” box_shadow_horizontal_button_tablet=”0px” box_shadow_horizontal_button_phone=”0px” box_shadow_vertical_button_tablet=”0px” box_shadow_vertical_button_phone=”0px” box_shadow_blur_button_tablet=”40px” box_shadow_blur_button_phone=”40px” box_shadow_spread_button_tablet=”0px” box_shadow_spread_button_phone=”0px” text_shadow_horizontal_length_tablet=”0em” text_shadow_horizontal_length_phone=”0em” text_shadow_vertical_length_tablet=”0em” text_shadow_vertical_length_phone=”0em” text_shadow_blur_strength_tablet=”0em” text_shadow_blur_strength_phone=”0em” global_colors_info=”{}” sticky_transition=”on”]<\/p>\n
[\/et_pb_slide][\/et_pb_fullwidth_slider][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.23.1″ background_color=”#FFFFFF” global_colors_info=”{}”][et_pb_row column_structure=”3_5,2_5″ admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”-33px||-33px||false|false” global_colors_info=”{}”][et_pb_column type=”3_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_accordion _builder_version=”4.16″ locked=”off” global_colors_info=”{}”][et_pb_accordion_item title=”The Problem” open=”on” icon_color=”#e02b20″ _builder_version=”4.16″ custom_margin=”||22px||false|false” custom_padding=”29px||27px||false|false” global_colors_info=”{}”]<\/p>\n
Some product items have an intermittent demand pattern that makes them all but impossible to forecast with traditional, smoothing-based forecasting methods.\u00a0 Items with intermittent demand – also known as lumpy, volatile, variable or unpredictable demand –\u00a0have\u00a0many zero or low volume values interspersed with random spikes of demand that are often many times larger than the average.\u00a0 This problem is especially prevalent in companies that manage large inventories of service and spare parts in industries such as aviation, aerospace, automotive, high tech, and electronics, as well as in MRO (Maintenance, Repair and Overhaul).<\/p>\n
[\/et_pb_accordion_item][et_pb_accordion_item title=”Intermittent demand” icon_color=”#e02b20″ _builder_version=”4.16″ custom_margin=”||22px||false|false” custom_padding=”25px||24px||false|false” global_colors_info=”{}” open=”off”]<\/p>\n
In these businesses, as much as 80% of the parts and product items may have intermittent or lumpy demand.\u00a0 Intermittent demand makes it difficult to accurately estimate the safety stock and service level inventory requirements needed for successful supply chain planning.\u00a0 Because forecasts of intermittent and lumpy demand have been so unreliable, most companies forecast inventory requirements relying primarily on subjective business knowledge, forecast only a fraction of their higher volume inventory, use simple \u201crule of thumb\u201d estimates, or traditional statistical forecasting that incorrectly assumes a particular type demand distribution for inventory control.\u00a0 The result is that billions of dollars are wasted every year because of either excess inventory costs or poor customer service due to stock-outs.<\/p>\n
[\/et_pb_accordion_item][\/et_pb_accordion][\/et_pb_column][et_pb_column type=”2_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/smartcorp.com\/wp-content\/uploads\/2020\/07\/Bootstrap-your-way-to-optimal-inventory-levels.jpg” alt=”Bootstrap your way to optimal inventory levels” title_text=”Bootstrap your way to optimal inventory levels” admin_label=”Image” _builder_version=”4.23.1″ custom_margin=”||-11px||false|false” custom_padding=”||0px||false|false” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”The Problem” _builder_version=”4.23.1″ header_text_color=”#ffffff” header_3_text_color=”#000000″ header_3_line_height=”1.7em” header_4_text_color=”#3c4463″ header_4_font_size=”20px” header_4_line_height=”1.4em” background_color=”#ffffff” custom_padding=”20px|33px|20px|33px|false|false” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.23.1″ background_color=”#dce4ea” global_colors_info=”{}”][et_pb_row column_structure=”3_5,2_5″ admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”3_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Solutions, Benefits” _builder_version=”4.23.1″ background_color=”#ffffff” background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”33px|33px|167px|33px|false|false” use_border_color=”off” global_colors_info=”{}”]<\/p>\n
SmartForecasts and Smart Inventory Optimization use a unique empirical probabilistic forecasting approach that results in accurate forecasts of inventory requirements where demand is intermittent. \u00a0The solution works particularly well whenever demand does not conform to a simple normal distribution. Our patented, APICS award-winning \u201cbootstrapping\u201d technology rapidly generates tens of thousands of possible scenarios of future demand sequences and cumulative demand values over an item\u2019s lead time.\u00a0 These scenarios are statistically similar to the item\u2019s observed data, and they capture the relevant details of intermittent demand without relying on the assumptions commonly made about the nature of demand distributions by traditional forecasting methods.\u00a0 The result is a highly accurate forecast of the entire distribution of cumulative demand over an item\u2019s full lead time.\u00a0 With the information these demand distributions provide, you can easily plan your company\u2019s safety stock and service level inventory requirements for thousands of intermittently demanded items with nearly 100% accuracy.<\/p>\n
<\/p>\n
Companies using our powerful intermittent demand forecasting and planning solution typically reduce standing inventory by 20% in the first year, increase parts availability 10-20%, \u00a0and reduce the need for and associated costs of emergency transshipment to close gaps in their supply chain.\u00a0 Repair and service parts inventories are truly optimized, leading to more efficient operations, improvements in customer service, and significantly less cash tied up in inventory.<\/p>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”2_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider show_divider=”off” disabled_on=”on|on|off” _builder_version=”4.23.1″ height=”6px” hide_on_mobile=”on” global_colors_info=”{}”]<\/p>\n
\n <\/p>\n
[\/et_pb_divider][et_pb_cta admin_label=”white paper” _builder_version=”4.23.1″ header_font=”Open Sans|600|||||||” header_font_size=”21px” header_line_height=”1.2em” background_color=”#dce4ea” background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_button=”on” button_text_color=”#0d4c92″ button_bg_color=”#ffffff” button_border_color=”#0d4c92″ button_font=”Rokkitt|on|||” button_use_icon=”off” text_orientation=”left” background_layout=”light” custom_margin=”0px||||false|false” custom_padding=”74px|33px|144px|33px|false|false” z_index_tablet=”500″ header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” body_text_shadow_horizontal_length_tablet=”0px” body_text_shadow_vertical_length_tablet=”0px” body_text_shadow_blur_strength_tablet=”1px” body_link_text_shadow_horizontal_length_tablet=”0px” body_link_text_shadow_vertical_length_tablet=”0px” body_link_text_shadow_blur_strength_tablet=”1px” body_ul_text_shadow_horizontal_length_tablet=”0px” body_ul_text_shadow_vertical_length_tablet=”0px” body_ul_text_shadow_blur_strength_tablet=”1px” body_ol_text_shadow_horizontal_length_tablet=”0px” body_ol_text_shadow_vertical_length_tablet=”0px” body_ol_text_shadow_blur_strength_tablet=”1px” body_quote_text_shadow_horizontal_length_tablet=”0px” body_quote_text_shadow_vertical_length_tablet=”0px” body_quote_text_shadow_blur_strength_tablet=”1px” border_color_all=”#403d60″ border_style_all=”solid” button_text_shadow_horizontal_length_tablet=”0px” button_text_shadow_vertical_length_tablet=”0px” button_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” box_shadow_horizontal_button_tablet=”0px” box_shadow_vertical_button_tablet=”0px” box_shadow_blur_button_tablet=”40px” box_shadow_spread_button_tablet=”0px” text_shadow_horizontal_length_tablet=”0px” text_shadow_vertical_length_tablet=”0px” text_shadow_blur_strength_tablet=”1px” button_text_color_hover=”#ffffff” button_letter_spacing_hover=”0″ button_bg_color_hover=”#0d4c92″ use_border_color=”on” border_color=”#0d4c92″ border_width=”2px” border_style=”solid” global_module=”551″ saved_tabs=”all” global_colors_info=”{}” button_text_size__hover_enabled=”off” button_text_size__hover=”null” button_one_text_size__hover_enabled=”off” button_one_text_size__hover=”null” button_two_text_size__hover_enabled=”off” button_two_text_size__hover=”null” button_text_color__hover_enabled=”on” button_text_color__hover=”#ffffff” button_one_text_color__hover_enabled=”off” button_one_text_color__hover=”null” button_two_text_color__hover_enabled=”off” button_two_text_color__hover=”null” button_border_width__hover_enabled=”off” button_border_width__hover=”null” button_one_border_width__hover_enabled=”off” button_one_border_width__hover=”null” button_two_border_width__hover_enabled=”off” button_two_border_width__hover=”null” button_border_color__hover_enabled=”off” button_border_color__hover=”null” button_one_border_color__hover_enabled=”off” button_one_border_color__hover=”null” button_two_border_color__hover_enabled=”off” button_two_border_color__hover=”null” button_border_radius__hover_enabled=”off” button_border_radius__hover=”null” button_one_border_radius__hover_enabled=”off” button_one_border_radius__hover=”null” button_two_border_radius__hover_enabled=”off” button_two_border_radius__hover=”null” button_letter_spacing__hover_enabled=”on” button_letter_spacing__hover=”0″ button_one_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover=”null” button_two_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover=”null” button_bg_color__hover_enabled=”on” button_bg_color__hover=”#0d4c92″ button_one_bg_color__hover_enabled=”off” button_one_bg_color__hover=”null” button_two_bg_color__hover_enabled=”off” button_two_bg_color__hover=”null”]<\/p>\n
In this white paper, we introduce \u201cGen2\u201d, our next generation of probabilistic modeling technology that powers the Smart IP&O Platform. \u00a0We recount the evolution of Smart Software\u2019s forecasting methods and we detail how Gen2 substantially expands the capabilities that have made Gen1 so useful to so many companies.\u00a0 Finally, we will also give a high-level view of the probability math behind Gen2 .\u00a0Fill in this form and we’ll email you the paper.<\/p>\n\n
<\/p>