Smart Resource Center
Product and Company Information
Academic Articles & White Papers
White Paper: What you Need to know about Forecasting and Planning Service Parts
This paper describes Smart Software’s patented methodology for forecasting demand, safety stocks, and reorder points on items such as service parts and components with intermittent demand, and provides several examples of customer success.
International Journal of Forecasting: A new approach to forecasting intermittent demand for service parts inventories
We address the problem of forecasting intermittent (or irregular) demand, i.e. random demand with a large proportion of zero values. This pattern is characteristic of demand for service parts inventories and capital goods and is difficult to predict. We forecast the cumulative distribution of demand over a fixed lead time using a new type of time series bootstrap.
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!