Smart Software is pleased to introduce our new series of educational webinars, offered exclusively for Epicor Users. In this webinar, Erik Subatis, Enterprise Solution Engineer at Smart Software, will reveal the statistical models Epicor Smart IP&O uses to forecast and how the automatic “best pick” system works. While automatic modeling is invaluable for large-scale forecasting, occasionally, these forecasts don’t reflect our expectations and/or business knowledge. Understanding how and when to override the model selection can be a valuable tool in a forecaster’s toolbox. Finally, the presentation will conclude by showing how to increase profitability with software-enhanced inventory planning processes in a Live Demo.
Attending this webinar, you will learn about the statistical models Smart IP&O uses to forecast and how to catch the exceptions so you can make the most of your forecasting tool.
WEBINAR REGISTRATION FORM
Please register to attend the webinar. If you are interested but not cannot attend, please register anyway – we will record our session and will send you a link to the replay.
We hope you will be able to join us!
SmartForecasts and Smart IP&O are registered trademarks of Smart Software, Inc. All other trademarks are the property of their respective owners.
For more information, please contact Smart Software,Inc., Four Hill Road, Belmont, MA 02478.
Phone: 1-800-SMART-99 (800-762-7899); E-mail: info@smartcorp.com
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 45-minute webinar focusing on specific approaches to demand forecasting and inventory planning that will enable you to increase profitability, improve service levels, and reduce inventory holding costs. The presentation will outline the challenges associated with traditional inventory planning and demand forecasting processes and how new probabilistic forecasting and optimization methods will make a big difference to your bottom line. Finally, the presentation will conclude by showing how to increase profitability with software-enhanced inventory planning processes in a Live Demo.
WEBINAR REGISTRATION FORM
Please register to attend the webinar. If you are interested but not cannot attend, please register anyway – we will record our session and will send you a link to the replay.
We hope you will be able to join us!
SmartForecasts and Smart IP&O are registered trademarks of Smart Software, Inc. All other trademarks are the property of their respective owners.
For more information, please contact Smart Software,Inc., Four Hill Road, Belmont, MA 02478.
Phone: 1-800-SMART-99 (800-762-7899); E-mail: info@smartcorp.com
Smart Software specializes in helping spares carrying operations companies optimize their inventory. For example, a leading Electric Utility customer implemented Smart IP&O in just 90 days and reduced inventory by $9,000,000 while maintaining service levels.
Our Smart IP&O platform includes a patented probabilistic forecasting core engineered specifically for intermittently demanded spare parts. Please join our webinar featuring Greg Hartunian, CEO of Smart Software, who will show how to plan optimal inventory levels and purchase quantities for thousands of items when demand is intermittent, constantly changing, or affected by unexpected events. This webinar is an excellent opportunity to learn how to reduce stock-outs and inventory costs by leveraging data-driven decisions that identify the financial trade-offs associated with changes in demand, lead times, service level targets, and costs.
WEBINAR REGISTRATION FORM
Please register to attend the webinar. If you are interested but not cannot attend, please register anyway – we will record our session and will send you a link to the replay.
We hope you will be able to join us!
SmartForecasts and Smart IP&O are registered trademarks of Smart Software, Inc. All other trademarks are the property of their respective owners.
For more information, please contact Smart Software,Inc., Four Hill Road, Belmont, MA 02478.
Phone: 1-800-SMART-99 (800-762-7899); E-mail: info@smartcorp.com
Smart IP&O goes live in 90 days and reduces inventory by $9 million in the first six months
Belmont, MA., 2021 – Smart Software, Inc. provider of industry-leading demand forecasting, planning, and inventory optimization solutions, today announced its selection, purchase, and implementation of its flagship product, Smart IP&O, by a major US electric utility. The platform is now utilized to plan over 250,000 spare parts valued at over $500,000,000 across the Utility’s multi-echelon distribution network. Smart IP&O was implemented in just 90 days and has been credited for reducing inventory by $9 million while maintaining service levels within its first six months of operation.
The implementation of Smart IP&O is part of the Utility’s Strategic Supply Chain Optimization (SCO) initiative to replace twenty-year-old legacy software. Subsequent phases of the Smart Software implementation will integrate Smart IP&O to their IBM Maximo Asset Management system.
Key to the selection and success of the project to-date is Smart Software’s proven track record planning intermittent demand that is prevalent on spare and service parts. Intermittent or lumpy demand is characterized by frequent periods of zero demand interspersed with large spikes of non-zero demand that seemingly occur at random. The Utility estimates that over 80% of its parts have intermittent demand. Smart Software leverages probabilistic forecasting that creates thousands of possible future outcomes of demand and lead times. The technology’s proven ability to accurately forecast the required inventory to achieve the high levels of service the Utility requires and to do so at scale were critical differentiators.
Implementation was accomplished within 90 days of project start. Over the ensuing six months, Smart IP&O enabled the adjustment of stocking parameters for several thousand items, resulting in inventory reductions of $9.0 million while sustaining target service levels. Significant additional savings – and improvement in service levels for critical spares – are anticipated in the coming year as stocks for additional facilities are brought into the system.
“We have had many very strong successes helping customers in asset-intensive industries optimize their parts inventory,” said Greg Hartunian, CEO of Smart Software. “Combined with the Utility’s support from the top-down, hands-on involvement from IT, and user enthusiasm to embrace a new approach, we had a great recipe for success. We look forward to building on our early success to deliver even more value together.”
About Smart Software, Inc.
Founded in 1981, Smart Software, Inc. is a leader in providing businesses with enterprise-wide demand forecasting, planning, and inventory optimization solutions. Smart Inventory Planning & Optimization is a multi-tenant web platform that gives demand planners the tools to handle sales seasonality, promotions, new and aging products, multi-dimensional hierarchies, and intermittently demanded service parts and capital goods items. The solution provides inventory managers with accurate estimates of the optimal inventory and safety stock required to meet future orders and achieve desired service levels. Smart Software is headquartered in Belmont, Massachusetts, and can be found at www.smartcorp.com.
SmartForecasts and Smart IP&O are registered trademarks of Smart Software, Inc. All other trademarks are the property of their respective owners.
For more information, please contact Smart Software,Inc., Four Hill Road, Belmont, MA 02478.
Phone: 1-800-SMART-99 (800-762-7899); E-mail: info@smartcorp.com
Smart Software VP Research to present at the MORS Symposium and at the Emerging Techniques Forum
Smart Software announced today that its co-founder and Senior VP of Research, Dr. Thomas Willemain, has been selected to present at the prestigious Emerging Techniques Forum on December 7-9, 2021, and also at the 89th MORS Symposium on June 21 – 25, 2021. MORS is the Military Operations Research Society, funded by the Navy, Army, Air Force, Marine Corps, Office of the Secretary of the Defense, and the Department of Homeland Security. Its mission is to enhance the quality of analysis that informs national and homeland security decisions.
1) MORS Virtual Symposium provides the defense analytic community with extensive content on emerging analytics topics and techniques. The focus for 89th MORS Symposium will be “Analytics to Enhance Decision Making.” Willemain will present four sessions this year:
High-Dimensional Data Reconnaissance using Snakes
The Snake is a new analysis tool that can detect the presence of clusters and estimate their number. Snakes provide a unique and readily interpreted visual depiction of the structure of high-dimensional data.
Coincidences: Signal or Noise?
We want to know whether the simultaneous occurrence of two events, i.e., a coincidence, is merely a chance event. If not, there may be some exploitable link between the events. We propose more comprehensive tests based on models of events that account for autocorrelation, trend, and seasonality.
Generation of Visual Scenarios for Use in Operator Training
Operator training is enhanced by exposure to scenarios depicting real-world data streams. Properly tuned time series bootstraps can create univariate and multivariate scenarios that meet quantity, cost, fidelity, and variety standards.
Testing for Equality of Several Distributions in High Dimensions
A fundamental Testing and Evaluation analysis task is looking for differences among alternative systems or processes. Several new tree-based statistics work well for effects that have multiple impacts in both MVN and non-MVN data.
2) The Emerging Techniques Forum provides the defense analytic community with extensive content on emerging analytic topics and techniques. Willemain will be one of a small number of experts speaking in the Augmented Decision Making track.
Dr. Willemain’s topic will be “Coping with Regime Change in Logistics Operations.”
Dr. Thomas Willemain’s research at Smart Software and Rensselaer Polytechnic Institute helps constantly innovate Smart IP&O, the company’s multi-tenant web-based platform for forecasting, inventory planning, and optimization.
About Smart Software, Inc.
Founded in 1981, Smart Software, Inc. is a leader in providing businesses with enterprise-wide demand forecasting, planning and inventory optimization solutions. Smart Software’s demand forecasting and inventory optimization solutions have helped thousands of users worldwide, including customers at mid-market enterprises and Fortune 500 companies, such as Disneyland Resorts, Metro-North Railroad, and American Red Cross. Smart Inventory Planning & Optimization gives demand planners the tools to handle sales seasonality, promotions, new and aging products, multi-dimensional hierarchies, and intermittently demanded service parts and capital goods items. It also provides inventory managers with accurate estimates of the optimal inventory and safety stock required to meet future orders and achieve desired service levels. Smart Software is headquartered in Belmont, Massachusetts and can be found on the World Wide Web at www.smartcorp.com.
SmartForecasts and Smart IP&O are registered trademarks of Smart Software, Inc. All other trademarks are the property of their respective owners.
For more information, please contact Smart Software, Inc., Four Hill Road, Belmont, MA 02478.
Phone: 1-800-SMART-99 (800-762-7899); FAX: 1-617-489-2748; E-mail: info@smartcorp.com
