Featured Articles
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…”
Article Archives
Smart Software is excited to announce that we are joining Epicor, a global leader of industry-specific enterprise software. The acquisition brings together two companies tightly aligned in helping organizations get to the right insights at the right time and take action to maximize business performance.
In joining Epicor, Smart Software customers will benefit from significant scale, development, and investment in our inventory planning and optimization solutions, over time giving you even more capabilities and product options. In acquiring Smart Software, Epicor is complementing and strengthening its portfolio of best-in-class ERP solutions, helping makers, movers, and sellers worldwide streamline and simplify their supply chains to gain a competitive advantage. As your strategic business partner, our top priority as we integrate the organizations in the coming months is to continue to provide you with the highest level of service and support you expect.
For more information on the news, please visit the Epicor Newsroom
Smart Software is pleased to announce the award of US Patent 11,656,887. “System And Method to Simulate Demand and Optimize Control Parameters for a Technology Platform.”
The patent directs “technical solutions for analyzing historical demand data of resources in a technology platform to facilitate management of an automated process in the platform.” One important application is optimization of parts inventories.
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
Right-Sizing Inventory with Demand Forecasting,” interview with Chief Material Officer at Metro-North Railroad.
Supply & Demand Chain Executive — June 26
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
Video Interview with SupplyChainBrain, “Service Level-Driven Demand Planning”
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
Feature Article: MCI’s Parts Planning Excels with Smart Software” in BusRide Maintenance Magazine
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
Feature Article: “Small Operational Changes Bring Big Cost-Cutting Results for Transit Agencies” in APTA Passenger Transport Magazine
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
Transit Talk Blog: “How to Discover Hidden Cost Savings in Your Transit Operations”
Mass Transit Magazine — September, 2011
Cover Story: A Northeast Commuter Railroad Struggles to Optimize Its Spare Parts Inventory
SupplyChainBrain — May/June 2011
“Prestolite Charges up Its Inventory Management”
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
Inventory Planning Processes: Challenges and Opportunities
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.
Spare Parts Planning Webinar for Public Transit Agencies
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.
February 2021: Learn about the Top 3 Inventory Control Policies
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.
Webinar: Maximize Revenue and Minimize Inventory Costs
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.
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Dynamics DAC Webinar: Inventory Planning Processes.
Please join our webinar at Dynamics Communities, featuring Greg Hartunian, CEO of Smart Software, who will identify the main problems of inventory planning processes and show in a live Demo how to solve them.
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Smart Software to Present at NESCON 2020
Greg Hartunian, CEO of Smart Software, under the tittle “Traditional inventory Planning Processes: Problems and Solutions”, will present how to empower planning teams to reduce inventory, improve service levels, and increase operational efficiency.
What you Need to know about Inventory Forecasting and Planning
Smart Software, Inc., provider of industry-leading demand forecasting, inventory planning, and inventory optimization solutions, announced today that SourceForge Online Magazine will feature an interview with Smart Software CEO, Greg Hartunian.
Smart Software to Present at P21WWUG CONNECT 2020
Smart Software today announced that Dr. Thomas Willemain, co–Founder and SVP Research, will present the Video Session “Top Inventory Policies Explained” at P21WWUG CONNECT 2020 from August 14 – September 11 , 2020.
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Smart Software Completes SOC 2 Type II Audit. Secure cloud platform
Smart Software, Inc., provider of industry-leading demand forecasting and inventory planning solutions, announced today that the company completed its SOC 2 Type II Audit, delivering the highest level of data security and availability for customers and partners.
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!