Problem
Flaws in supply chain planning include fragile just-in-time systems, simplistic deterministic forecasts, naïve rule-of-thumb-based replenishment rules, and outdated reorder points. Would you be able to answer what is your inventory position today, on any item? Where are you stocking out and how often? What are your delivery times? Why did you ship late? Do you have too much inventory in one location, not enough in another? What are your real supplier lead times? These are obvious questions, but extremely important, and the answers can reveal underlying root causes that when resolved will improve supply chain performance. But these answers are elusive, often because data is locked up in your ERP and only accessible via limited reporting views or spreadsheets. Creating these reports manually using Excel requires data imports, reformatting, and distribution to key stakeholders, wasting countless hours of valuable planning time. This means that getting updated information when you need it, is not always possible. Not having access to these answers means that problems reveal themselves only after it is too late, and opportunities for improving the inventory planning process are overlooked, further contributing to poor performance.
Solution
Smart Reporting Studio (SRS™) is a native web reporting solution available on Smart’s Inventory Planning and Optimization Platform, Smart IP&O. It provides a fast, easily understood, current perspective on the state of your inventory, its performance against critical metrics, actual supplier lead times, opportunities to rebalance stocks across facilities, and helps you uncover root causes of operational inefficiencies. You can build your own customized reports with and SRS automatically refreshes as often as you’d like providing all stakeholders immediate, up-to-date reporting on your operations and performance. Provide responses to critical business questions by having constant visibility of inventory levels, orders, shipments, and supplier performance to ensure you’ll always be in tune with the state of your operations and resolve issues before they become problems. Identify areas to cut costs and to allocate budget. Enhance visibility. Improve responsiveness. Increase your bottom line.
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Smart Reporting Studio (SRS)
Inventory Analytics
Quantify inventory value
Cut costs and allocate budget
Inventory classification
Quickly generate reports and collaborate with your team
Operational Performance
Measure service level performance
Identify critical business opportunities
Calculate turns, holding & ordering costs
Generate custom dashboards and views
Supplier Insights
Measure supplier performance
Compare supplier lead times
Rank suppliers across available metrics
Trend metrics over time
Who is Reporting Studio for?
Smart Reporting Studio is for executives, planners, and operations professionals who seek to:
- Measure inventory costs and performance in real-time.
- Identify critical business opportunities
- Assess and compare supplier performance.
- Identify root causes of stockouts, excess inventory, and late deliveries.
- Share KPI’s such as service levels, turns, costs, and more across the organization.
What questions can Reporting Studio answer?
- What does my inventory look like? By value, count, classification?
- Is my inventory trending up, down, or the same?
- How much of my inventory is overstocked, understocked, or acceptable?
- Can inventory be transferred from overstocked locations to under stocked locations?
- Can existing supplier orders be cancelled or deferred?
- What are my current turns, service levels, and fill rates and how do they trend over time?
- How many out of stock events occurred this week, this month, this quarter?
- How are my suppliers performing, how do they compare?
- What is my supplier lead time and how has it changed over time?
Inventory and supplier reporting for your enterprise
Smart Operational Analytics empowers you to:
- Benchmark service performance and inventory costs.
- Benchmark supplier performance.
- Quickly generate reports and collaborate with your team
- Assess and Classify Inventory by class, stage, and more.
- Generate custom dashboards and views
- Share metrics with the organization.
Smart IP&O, a modular platform for Inventory Planning & Optimization
