Articles and Press Releases about Smart and the Industry
How Intermittent Demand Reduced Target Inventories
Read how the Smart-Willemain Bootstrapping method for intermittent and lumpy demand more accurately forecasts optimal inventory stocking levels than traditional approaches. The article examines how this method was applied within the Aerospace and Automotive Industries to better forecast service parts and other hard to predict items.
Right-Sizing Inventory with Demand Forecasting
“Metro-North Railroad uses its assets to move people from Point A to Point B in a timely fashion. Rich Price, chief material officer at Metro-North Railroad, is celebrating his 40th year in the public commuter rail industry and his seventh year at Metro-North. He retired from New Jersey Transit, after…”
Smarter Inventory Management
Montreal Transit Corporation’s lead demand planner reviewed SmartForecasts, a demand forecasting, planning, and inventory optimization software, for APICS’ January/February issue. MTC, operating a fleet of 1,680 buses and 84 subway trains, utilized SmartForecasts to improve service levels and drive down inventory.
Intermittent demand and service levels hold the keys to solving inventory planning woes
How do you balance inventory spending against the risk of running out? How much is enough? And if demand is intermittent, how can you tell? Service level-driven planning can help you determine where you are over- and under-stocked and optimize your inventory investment. The article explains how using the 4-step SLDP process, with examples from National Sales, a St. Louis-based PVH / HCAC distributor.
Four Steps to Service Level-Driven Inventory Planning
“How much inventory is enough? How do you arbitrate across different viewpoints, weighing inventory investment against the impact of stocking out? Service Level has proven to be an objective metric that relates cost to risk, enabling the optimal allocation of scarce inventory dollars…”
Service-Level-Driven Demand Planning
“Traditional approaches to demand planning do not guarantee increases in customer service levels or satisfaction, says Greg Hartunian, president, Smart Software Inc.”
Sweet Spot: The relationship between forecasting and optimal stocking levels
Read how forecasting and setting optimal inventory stocking levels are related processes, and getting the two “in sync” can result in dramatic bottom-line improvement. Also, learn how software solutions that use statistical optimization techniques can go a long way toward accurately setting stocking levels.
Power Up: Build-to-order manufacturer gains control with comprehensive forecasting solution
Read how Vicor Corporation, a BTO manufacturer of power conversion products for the electronics OEM market, has greatly enhanced its forecasting and planning process by integrating SmartForecasts with the company’s PeopleSoft ERP system. Learn how the forecasting solution helps Vicor’s decision makers pursue strategic objectives, including an increase in on-time delivery performance of 10% and a reduction in inventories of 20%.
Now You See It, Now You Don’t Inventory
“Instead of carrying a multi-year inventory of a set of fasteners, we want to carry smaller quantities of more part numbers…”
Smart Software named a Microsoft Co-sell-ready partner as a leading demand planning and inventory optimization solutions provider. Microsoft customers leverage Smart’s web-native platform for Inventory Planning and Optimization (Smart IP&O) to develop consensus forecasts, manage demand, and optimize stocking policies.
We are so grateful to announce Smart Software’s 40th anniversary. Forty years of Innovation for Demand Forecasting, Inventory Planning, and Supply Chain Analytics. Smart, Hartunian, and Willemain was incorporated in June 1981 by Charles Smart, Thomas Willemain, and Nelson Hartunian, our visionary founders.
Supply and Demand Chain Executive 2020 Online Magazine features an article about inventory optimization at BC Transit, entitled “Optimizing Parts Management at BC Transit.” Eric Nelson, Director for Supply Services at BC Transit explains how Smart IP&O has helped ensure that they have the right part in the right place at the right time to equip their entire service network with 35 repair locations.
Don’t Be a Victim of your Forecast Models – Special Section in Foresight Magazine. In this feature section, Tom Willemain provokes a good deal of thought about the role of statistical models in supply chain forecasting, a field that he believes lags far behind finance in embracing algorithms over gut instinct. Download Special Section on Forecast Modeling in Spring 2019 Issue of Foresight Magazine
Supply & Demand Chain Executive — June 26, 2015
See “Four Steps to Service Level-Driven Inventory Planning” in SupplyChain Management Review.
SupplyChain Management Review — April 12, 2015
Minnesota’s Metro Transit adopts service-level driven method of inventory planning from Smart Software.
Mass Transit Magazine — February 2015
SupplyChainBrain — June 30, 2014
Conquering Supply Chain Variability at Rev-A-Shelf,” in Supply & Demand Chain Executive Online
Supply & Demand Chain Executive — April 9, 2014
Now You See It, Now You Don’t Inventory,” New technologies to address intermittent demand, in Aviation Week Online
Aviation Week — April 7, 2014
Webinar Replay: Agile Demand Forecasting, the Rev-A-Shelf Experience.
SmartSoftware Inc. — January 2014
BusRide Maintenance Magazine — September 2013
Webinar replay: CFO View of Demand Forecasting, with Bud Schultz, NKK Switches. Originally broadcast 9/26/2013.
SmartSoftware Inc. — September 2013
Featured Review: “Smart Software for Service-level Driven Forecasting” by Technology Evaluation Centers.
Technology Evaluation Centers — May 2013
Feature Article: “Forecasting – It’s More than Inventory Management,” in Supply & Demand Chain Executive.
Supply & Demand Chain Executive — February 2013
APTA Passenger Transport Magazine — June 2012
Feature Article: “Meeting the Service Parts Inventory Planning Challenge” in BUSride Maintenance Magazine
BUSride Maintenance Magazine — April 2012
SmartForecasts Review: “Smarter Inventory Management: Forecasting public transportation needs with the complete software package” in APICS Magazine
APICS magazine — January/February 2012
Mass Transit Magazine — September, 2011
Cover Story: A Northeast Commuter Railroad Struggles to Optimize Its Spare Parts Inventory
SupplyChainBrain — May/June 2011
When retirements drained its planning expertise and a bad mix of too much inventory put a strain on cash flow, the company brought in a new forecasting tool to power its planning process. S&DCE Aug/Sep 2010
“How to Survive the Economic Crunch”
Current economic conditions are challenging everyone’s business. This is especially true for companies in the manufacturing and distribution sectors that have a large percentage of their supply chain resources tied up in inventory. With credit tight, these companies are looking for ways to preserve as much cash as possible. Because inventory is cash sitting on the shelves, a prime way to reduce costs and increase cash flows is to improve the forecasting and planning of inventory requirements. SDCExec.com May 2009
“Smooth Ride: Forecasting solution improves product deployment and reduces transportation costs”
See how Prevost Parts, a division of Canadian bus manufacturer Prevost Car, has used SmartForecasts to improve inventory allocation and distribution effectiveness in the North American aftermarket for its 25,000 motorcoach and urban bus parts. Learn about Prevost Parts’ evaluation criteria in selecting SmartForecasts over five other applications considered, and the importance of Smart’s unique intermittent demand forecasting capability in solving Prevost’s forecasting and safety stock estimation problems. APICS May 2005
“Prevost Parts increases replacement part availability and reduces inventory through improved demand forecasting” by Alex Daudelin.
Read an article about how Prevost Parts, the parts division of Canadian bus manufacturer Prevost Car, uses SmartForecasts to more effectively distribute replacement parts for the North American motorcoach and transit bus markets. Learn why the company selected SmartForecasts over SAP’s demand planning application and now expects both a 25% increase in forecast accuracy and close to a 20% reduction in inventory stocking levels. Geston Logistique March 2004
“The Right Tools” by Charles Smart, president of Smart Software.
Learn how the right statistical forecasting tools combined with collaborative inputs from management, salespeople and customers can greatly improve forecast accuracy and streamline a company’s demand planning process. APICS May 2003
“Forecasting-As Important as Ever” by Charles Smart, president of Smart Software.
Read why demand forecasting is still essential in this new manufacturing age. APICS Nov/Dec 2001
“A better crystal ball” by Charles Smart, president of Smart Software.
Read a Web-exclusive article about how forecasting applications are adapting to shorter product life cycles and build-to-order trends. manufacturingsystems.com Nov 2001
“Bootstrap Your Way to Better Forecasts” by Charles Smart, president of Smart Software.
Learn about Smart Software’s new forecasting method to address the multi-million dollar problem of planning intermittent, slow-moving demand. Midrange Enterprise Jan 2001
Smart Press Releases
Smart Software today announced its selection, purchase, and implementation of its flagship product by a major US Electric Utility. Smart IP&O was implemented in just 90 days and has reduced inventory by $9 million within its first six months of operation.
Smart Software announced today that its co-founder and Senior VP of Research, Dr. Thomas Willemain, has been selected to present at the prestigious MORS Symposium and at the Emerging Techniques Forum.
Smart Software is pleased to introduce our new webinar, offered exclusively for Prophet21 users. Greg Hartunian, CEO at Smart Software, will lead a 45-minute webinar focusing on specific approaches to demand forecasting and inventory planning.
Smart Software VP of Research to Present how Probabilistic Time-Series Scenarios are used, evaluated, and automatically generated using the statistical bootstrap, at INFORMS 2021.
Smart Software joins the International Symposium on Forecasting (ISF). This International sponsorship will enable Smart Software to approach experts in the forecasting field, including Research Nobel laureates.
Smart Software is pleased to introduce our new series of educational webinars, offered exclusively for Epicor Users. Greg Hartunian, CEO at Smart Software, will lead a 45-minute webinar focusing on specific approaches to demand forecasting and inventory planning.
In this webinar, Greg Hartunian, CEO of Smart Software, will discuss the particular challenge of spare parts planning, why traditional practices used today fail, and how inventory forecasting technology is being harnessed to optimize performance and drive significant financial return.
Epicor User Group Webinar: Top 3 Inventory Control Policies. In this webinar Dr Thomas R. Willemain, Ph.D., SVP Research and Professor Emeritus at Rensselaer Polytechnic Institute, defines and compares the three most used inventory control policies.
Please join our webinar featuring Greg Hartunian, CEO of Smart Software, who will explain how optimization works and how it compares to traditional approaches that pick an arbitrary service level target.
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!