Smart Software, a leader in enterprise demand planning, consensus forecasting, and inventory optimization solutions announces the release of Smart Inventory Planning and Optimization (Smart IP&O) for Prophet 21 (P21). The company will demonstrate the solution at the Connect 2022, P21’s Annual User Group Conference August 29th – August 31st. With Smart IP&O, Prophet 21 users will now be able to:
- Conduct Global What if Scenarios across thousands of parts that compare Smart prescribed, user defined, and P21 calculated stocking policies across Key Performance Predictions of Service Levels, Fill Rates, Shortage Costs, Inventory Value, and more.
- Leverage Smart’s prescribed stocking policies and service level recommendations that will optimally yield the most profitable outcomes for each part considering predicted holding costs, ordering costs, and shortage costs.
- Accurately forecast all demand patterns including intermittent demand that is highly prevalent with distribution businesses. Smart’s patented probabilistic modeling engine generates thousands of future demand scenarios that more accurately predict demand and stocking policies.
- Develop consensus forecasts comparing statistical, P21 generated forecasts, sales, and customer forecasts. Smart’s Demand Planning workbench enables graphical and tabular visualizations of all forecasts considered and supports automated consensus forecasting and accuracy measurement.
- Leverage Smart IP&O’s bi-directional integration to P21 that continually updates Smart’s common data model with planning data and writes back forecasts and stocking policies on demand.
“Smart IP&O extends an already feature rich P21 with difference making forecasting and inventory optimization technology. Our joint customers will now be able to more effectively wield inventory to build a competitive moat around their business, maximize sales, and outperform the competition,” said Greg Hartunian, Smart Software CEO. “Today’s supply chains need far better capabilities to contend with the extreme demand and supply variability businesses are facing today. We look forward to equipping our Epicor P21 customers with the tools to do this effectively, accurately, and at scale.”
About Smart Software, Inc.
Founded in 1981, Smart Software, Inc. is an Epicor Platinum Partner and leading provider of demand planning, forecasting, inventory optimization, and analytics solutions. Our web platform, Smart IP&O, leverages probabilistic forecast modeling, machine learning, and collaborative demand planning to optimize inventory levels and increase forecast accuracy. Smart Software is headquartered in Belmont, Massachusetts. To learn more, visit www.smartcorp.com.