Demand Forecasting & Inventory Optimization

Solutions for Manufacturers, Distributors, and MRO

Click here to learn more

Optimized Stock Levels

Ship on time and in full with risk-adjusted reorder points

Click here to learn more

Spare Parts Planning

 Increase machine uptime, service levels, and reduce MRO inventory

Click here to learn more

Collaborative Forecasting

Synchronize inventory and increase sales without excess stock

Click here to learn more

What Do You Need to Know About Forecasting and Planning Service Parts?

This paper describes Smart Software’s patented methodology for forecasting demand, on items such as service parts and components with intermittent demand.

    Best practices for demand forecasting, and inventory planning

    Video Tutorials: Over the course of these video tutorial series, you’ll be able to identify opportunities to optimize inventory, improve forecast accuracy, and increase revenue.

      Smart Planner Demand Forecasting Inventory Optimization
      Demand Forecasting and Inventory Optimization
      Smart Supply Planner Inventory Management Software 1
      Smart Operational Analytics: Track Inventory Costs, units, Turn, and Value; Supplier Analysis and Comparison; Measure Historical Service Levels

      Improve Forecast Accuracy, Eliminate Excess Inventory, & Maximize Service Levels

      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.

      Testimonials

      Public Transportation Railroad Metro Service parts

       

      “Smart is the only one out there that has really licked the intermittent demand modeling challenge. We get accurate information and more importantly at the lowest dollar. Without Smart, I think we would have seen continued growth in our inventory and not necessarily gotten any greater benefit for service.”

      Chief Material Officer, Metro-North Railroad

       

      “Smart IP&O enabled us to model demand at each stocking location and, using service level-driven planning, determine how much to stock to achieve the service level we require.  By running and comparing different scenarios we can easily define and update optimal stocking policies for each tech support rep and stockrooms.”

      Purchasing Manager, Seneca Companies

      BC TRANSIT

       

      “Smart IP&O allowed us to transform our manually maintained stocking levels to a service level-based model that drove significant improvements in fill rates while optimizing total inventory on hand.  The accurate forecasts of stocking levels provided fact-based data that allowed us to strategically phase the consolidation effort where warehouse space was at a premium.”

      Manager Part Supply and Logistics, BC Transit

      Demand Forecasting and Inventory Optimization for Manufacturers, Distributors and MRO

      Spare Parts

      Industrial Equipment

      Manufacturing

      Transportation

      Pursuing best practices in Demand Forecasting and Inventory Optimization for Manufacturers and MRO

      5 Demand Planning Tips for Calculating Forecast Uncertainty

      5 Demand Planning Tips for Calculating Forecast Uncertainty

      Those who produce forecasts owe it to those who consume forecasts, and to themselves, to be aware of the uncertainty in their forecasts. This note is about how to estimate forecast uncertainty and use the estimates in your demand planning process. We focus on forecasts made in support of demand planning as well as forecasts inherent in optimizing inventory policies involving reorder points, safety stocks, and min/max levels.

      read more
      Stop Leaking Money with Manual Inventory Controls

      Stop Leaking Money with Manual Inventory Controls

      An inventory professional who is responsible for 10,000 items has 10,000 things to stress over every day. Double that for someone responsible for 20,000 items. In the crush of business, routine decisions often take second place to fire-fighting: dealing with supplier hiccups, straightening out paperwork mistakes, recovering from that collision between a truck and the loading dock.

      read more
      Goldilocks Inventory Levels

      Goldilocks Inventory Levels

      You may remember the story of Goldilocks from your long-ago youth. Sometimes the porridge was too hot, sometimes it was too cold, but just once it was just right. Now that we are adults, we can translate that fairy tale into a professional principle for inventory planning: There can be too little or too much inventory, and there is some Goldilocks level that is “just right.” This blog is about finding that sweet spot.

      read more
      AUTOMATED STATISTICAL ANALYSIS DRIVES INVENTORY MANAGEMENT
      Inventory managers struggle with the conflicting priorities of customer satisfaction and cost control. The featured article shows how to harness customer demand data to craft optimal inventory policies:
      Measure current inventory policy performance: service levels, fill rates, inventory turns, and ordering costs.
      Identify improvement goals: Assessing tradeoffs between inventory investment and the risk of running out.
      Find the optimal balance point: Setting reorder points and order quantities that will achieve the results you require and much more in this article.

        Get This Article