Inventory Planning & Optimization
for Manufacturers, Distributors, and MRO
Inventory Optimization for Manufacturers, Distributors, and MRO
After-sales service acts as a significant source of competitive differentiation, revenue, profits, and customer loyalty. Yet most maintenance, repair, and operations purchasing processes (MRO) struggle to effectively plan spare parts inventory that are critical to ensuring service levels. Parts inventory is often planned in spreadsheets using outdated Min/Max settings. This yields stockouts, unplanned down time, and excess inventories on parts that aren’t needed.
Smart’s Inventory Planning and Optimization Platform uses cutting edge Machine Learning and Probabilistic Modeling technology to ensure spare parts inventory is properly balanced for each part at every location. You’ll maximize service levels, minimize inventory, and provide best-in-class after sales service to your customers.
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%, and reduce the need for and associated costs of emergency transshipment to close gaps in their supply chain. 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.
White Paper: What you Need to know about Forecasting and Planning Service Parts
This paper describes Smart Software’s patented methodology for forecasting demand, safety stocks, and reorder points on items such as service parts and components with intermittent demand, and provides several examples of customer success.
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