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Gen2 harnesses daily demand and supply signals and substantially advances Gen1\u2019s probabilistic forecasting methods. Now probabilistic forecasting accounts for not only trends but also daily, weekly, monthly, and quarterly seasonality. Instead of running a \u201chold out\u201d tournament, forecasts are based on probability distributions of each future period. This enables more accurate estimates of mean demand and more realistic assessments of forecast uncertainty (since there are no assumptions about \u201cbell-shaped curves\u201d). Fewer historical data points are required making Gen2 very effective with new product forecasts and when older data is no longer relevant. Accurate forecasts of daily and weekly demand can be generated with as little as 45-60 days of demand history. Finally, the approach, while powerful, is quite easy to understand and thus easier to apply at scale to support business planning. The question \u201cHow many forecasting methods do you use?\u201d may now be answered as \u201cone\u201d for customers leveraging Gen2.<\/p>\n
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indicators” image_icon_width=”32%” admin_label=”More KPIs” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|12px|33px|12px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb url=”https:\/\/smartcorp.com\/smartipodemo\/” image=”https:\/\/smartcorp.com\/wp-content\/uploads\/2023\/04\/3-Gen2-forecasting-software-facilitates-new-product-forecasting.png” alt=”3 Gen2 forecasting software facilitates new product forecasting” image_icon_width=”35%” admin_label=”new [\/et_pb_blurb][et_pb_blurb 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Optimization models several inventory policies” image_icon_width=”35%” admin_label=”several inventory [\/et_pb_blurb][et_pb_blurb url=”https:\/\/smartcorp.com\/smartipodemo\/” image=”https:\/\/smartcorp.com\/wp-content\/uploads\/2023\/04\/13-Gen2-comprises-a-bundle-of-applications.png” alt=”13 Gen2 comprises a bundle of applications” image_icon_width=”35%” admin_label=”bundle of [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” custom_margin=”0px|0px|0px|0px|false|false” custom_padding=”0px|0px|0px|0px|false|false” global_colors_info=”{}”][et_pb_row column_structure=”1_3,1_3,1_3″ use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” module_class=”hp-sect2-tit” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” global_colors_info=”{}” custom_padding__hover_enabled=”on|desktop” custom_padding__hover=”||0px||false|false”][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb url=”https:\/\/smartcorp.com\/smartipodemo\/” alt=”Smart Software Predict the future Invenotry Management Technology” image_icon_width=”72%” admin_label=”GEN2 Unique Technology ” _builder_version=”4.17.5″ header_text_color=”#0c71c3″ body_line_height=”1.6em” background_color=”#FFFFFF” background_image=”https:\/\/smartcorp.com\/wp-content\/uploads\/2022\/07\/Smart-Software-Predict-the-future-Invenotry-Management-Technology.jpg” background_size=”contain” transform_scale=”90%|90%” height=”244px” custom_margin=”|-1px|32px|-1px|false|false” custom_padding=”20px|24px|53px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”][\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb url=”https:\/\/smartcorp.com\/smartipodemo\/” alt=”Unique next generation technology software” image_icon_width=”72%” admin_label=”GEN2 Unique Technology ” _builder_version=”4.16″ header_text_color=”#0c71c3″ body_line_height=”1.6em” background_color=”#FFFFFF” background_image=”https:\/\/smartcorp.com\/wp-content\/uploads\/2021\/09\/imgpsh_mobile_save.jpg” background_size=”contain” height=”244px” custom_margin=”|-1px|32px|-1px|false|false” custom_padding=”20px|24px|53px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”][\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb url=”https:\/\/smartcorp.com\/smartipodemo\/” alt=”New Generation Forecasting Technology” image_icon_width=”72%” admin_label=”GEN2 Unique Technology ” _builder_version=”4.16″ header_text_color=”#0c71c3″ body_line_height=”1.6em” background_color=”#FFFFFF” background_image=”https:\/\/smartcorp.com\/wp-content\/uploads\/2021\/09\/GEN2.jpg” background_size=”contain” transform_scale=”78%|78%” height=”244px” custom_margin=”|-1px|32px|-1px|false|false” custom_padding=”20px|24px|53px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”][\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ background_color=”#FFFFFF” custom_margin=”0px||||false|false” custom_padding=”0px||||false|false” 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=”0px||||false|false” custom_padding=”0px||||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_text admin_label=”Solutions, Benefits” _builder_version=”4.23.1″ background_color=”#edf2f7″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”53px|33px|198px|33px|false|false” use_border_color=”off” global_colors_info=”{}”]<\/p>\n One of the most significant challenges now facing demand forecasters is the increasing pace of business. In the past, forecasting processes ran at a monthly tempo, and rare was the company that even accelerated to a weekly tempo. SDP Gen1 was fed by Smart Data Pipeline, which took the most microscopic data\u00a0 -transactions such as individual orders and shipments- and aggregated them to daily totals. However, the classical time series forecasting algorithms in Gen1 for non-intermittent demand were best suited to working at a higher level of aggregation, so Gen1 was sufficient for the monthly or maybe weekly processes of our customers. The specialized algorithm in Gen1 for forecasting intermittent demand was an exception since it could work at any level of disaggregation. However, customers were not inclined to forecast some items daily and others monthly, so most customers defaulted to monthly data.<\/p>\n Now, though, the speed of business has combined with SKU proliferation to thin out demand streams, giving more items\u2019 demand an intermittent character. As a result, Gen2 does all its calculations on daily data. If customers choose to operate at a slower tempo, daily results can easily be aggregated to weekly, monthly, quarterly or annual levels. It is easy to aggregate forecasts.<\/p>\n <\/p>\n Companies using our powerful planning solutions 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=”4.20.4″ 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> Smart IP&O Gen2 exploits daily data\u00a0<\/h3>\n
\naccessible” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\nGen2 is easy to understand, data-light, and more accessible<\/h3>\n
\nforecasts” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\nGen2 Inventory Optimization automatically integrates forecasts from Gen2 Forecasting<\/h3>\n
Gen 2 Inventory Optimization fully exploits simulation<\/h3>\n
\nuncertainty” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\nGen2 Inventory Optimization accounts for supplier uncertainty<\/h3>\n
Gen2 Forecasting provides better estimates of forecast uncertainty<\/h3>\n
\ncorrections” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” hover_enabled=”0″ border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\nGen2 Forecasting exploits daily data to guide near-term course corrections<\/h3>\n
\ncomplex seasonality” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\nGen2 Forecasting handles more complex seasonality<\/h3>\n
Gen2 Inventory Optimization outputs more key performance indicators<\/h3>\n
\nproduct forecasting” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\nGen2 Forecasting facilitates new product forecasting<\/h3>\n
Gen2\u2019s Machine Learning automatically uses only relevant recent data<\/h3>\n
\npolicies” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\nGen2 Inventory Optimization models several inventory policies<\/h3>\n
\napplications ” _builder_version=”4.23.1″ header_text_color=”#0c71c3″ header_font_size=”22px” header_line_height=”1.2em” body_line_height=”1.6em” background_color=”#FFFFFF” image_icon_custom_margin=”0px||-11px||false|false” image_icon_custom_padding=”0px||0px||false|false” custom_margin=”|-1px|22px|-1px|false|false” custom_padding=”20px|24px|33px|24px|false|false” animation=”off” border_radii=”on|1px|1px|1px|1px” image_max_width=”72%” global_colors_info=”{}”]<\/p>\nGen2 comprises a bundle of applications<\/h3>\n
The Smart Solution<\/h3>\n
The Benefits<\/h3>\n
White Paper:\u00a0 Smart Software Gen2<\/strong><\/h2>\n
<\/ul><\/div>\n