SmartForecasts: demand planning, forecasting, and inventory optimization solution.
Maximize Service Levels & Eliminate Excess Inventory
SmartForecasts is Smart Software’s desktop demand planning, forecasting, and inventory forecasting solution. It is installed on your server or accessed via our hosted services. SmartForecasts provides demand planning, forecasting and service level targeting functionality to ensure you have a reliable and accurate prediction of future demand and stocking parameters that will achieve a desired service level. SmartForecasts ensures that demand forecasts reflect inherent trend and seasonal patterns and provides a workbench for sharing and overriding forecasts based on promotions, events, and business knowledge. Forecast accuracy can be tracked and measured so that you can deliver the most accurate demand forecast to drive the supply chain. SmartForecasts is integrated with the SmartPlatform.
Accurate and Objective Demand Forecasts
Automatically Capture Trend and Seasonality
Predict Likely Range of Future demand
Flags Exceptions and Cleanse Historical Data
Operational Consensus
Share plan with key stakeholders
Review at any level of hierarchy
Apply overrides and achieve consensus
Consistent Repeatable Process
Common System, No Spreadsheets
Embed and reuse Forecast Rules
Monitor accuracy and fine tune
Who is SmartForecasts Demand Planning for?
- Demand Planners
- Forecast Analysts
- Material & Inventory Planners
- Operational Research Professionals
- Sales Analysts
- Statistcally Minded Executives
What questions can SmartForecasts answer?
- What is my short and long term demand most likely to be?
- Which areas of the business and products are trending?
- What is the forecast at different levels of my hierarchy (customer, item, family)?
- What is the likely range of future demand?
- Which forecasts need to be reviewed (exception reporting)?
- What is our forecast error (accuracy) for each item, group, overall?
- Are forecast overrides adding value to the process?
What can SmartForecasts Forecasting do?
- Accurately forecast demand for thousands of items in any unit of measure
- Capture trends, seasonal, and cyclical patterns at any level
- Outlier detection and correction to enhance the quality of historical data
- Identifies “causal” factors such as price and economic data and models their impact on demand
- Patented Intermittent Demand Planning via APICS award winning “Bootstrapping” technology
What can SmartForecasts Demand Planning do?
- Create forecasts at any level of the hierarchy – customer, item, product groups, regions,
- Share forecasts with internal and external stakeholders such as sales and suppliers
- Apply, document, and track forecast overrides
- Quantify the impact that promotions will have on future demand
- Apply user defined forecasting methods and rules
- Measure forecast error by item and overall
- Identify exceptions based on statistical and user defined rules
- Manage item replacements with supersession logic
- Bill of Material Planning to determine component demand based on the finished good forecast
Nucleus Research finds that Metro Transit achieves 4:1 ROI in less than 6 months
Nucleus Research evaluated Metro Transit’s deployment of SmartForecasts and found a 4x return on investment in the first 6 months of use. See the complete Nucleus study and learn how Metro:
- Addresses intermittent service parts demand
- Assesses tradeoffs between service improvement & inventory cost
- Determines optimal reorder levels and order quantities
- Reduced inventory and inter branch transfers while improving fill rates
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!