Epicor Acquires Smart Software for AI-Powered Inventory Planning & Optimization Technologies
Smart Software is excited to announce that we are joining Epicor, a global leader of industry-specific enterprise software. The acquisition brings together two companies tightly aligned in helping organizations get to the right insights at the right time and take action to maximize business performance.

In joining Epicor, Smart Software customers will benefit from significant scale, development, and investment in our inventory planning and optimization solutions, over time giving you even more capabilities and product options. In acquiring Smart Software, Epicor is complementing and strengthening its portfolio of best-in-class ERP solutions, helping makers, movers, and sellers worldwide streamline and simplify their supply chains to gain a competitive advantage. As your strategic business partner, our top priority as we integrate the organizations in the coming months is to continue to provide you with the highest level of service and support you expect.

For more information on the news, please visit the Epicor Newsroom

 

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 such as Disney, Arizona Public Service, and Ameren. Smart’s Inventory Planning & Optimization Platform, Smart IP&O, provides 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

About Epicor
Epicor equips hard-working businesses with enterprise solutions that keep the world turning. For 50 years, Epicor customers in the automotive, building supply, distribution, manufacturing, and retail industries have trusted Epicor to help them do business better. Innovative Epicor solution sets are carefully curated to fit customer needs and built to flexibly respond to their fast-changing reality. With deep industry knowledge and experience, Epicor accelerates its customers’ ambitions, whether to grow and transform, or simply become more productive and effective. Visit www.epicor.com for more information.


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

 

 

Smart Software to Present at Epicor Insights 2024
Smart Software will present Epicor Insights 2024 sessions on combining AI with planner knowledge to make inventory data-driven decisions.

Belmont, MA, May 2024 – Smart Software, Inc., provider of industry-leading demand forecasting, planning, and inventory optimization solutions, today announced that it will present at Epicor Insights 2024 in Nashville, Tennessee.

Smart Software will be leading two sessions focused on combining demand forecasting and inventory planning AI with planner knowledge. These sessions are designed to empower Epicor Kinetic and Epicor Prophet 21 users to generate accurate forecasts and shape stocking policies that align with their business objectives.

Smart will also conduct two in-depth training lab sessions showcasing Smart Demand Planner and Smart Inventory Optimization, both integral parts of the Epicor Smart IP&O platform. Participants will gain expertise in precision forecasting and inventory management, learning to identify hidden risks in stocking policies, simulate various service strategy outcomes, and enhance forecast accuracy through comprehensive, multi-tiered analysis and scenario testing

Epicor Insight’s attendees may participate in any of the following sessions or Labs and are welcome to visit us at the Smart Software booth for a one-on-one consultation.

 

The Prophet 21 presentation is scheduled for Tuesday, May 21st, at 3:00 pm (CDT)

1 HD WEB PROPHET21 2024 

The Demand Planning Lab is scheduled for Wednesday, May 22nd, at 3:20 pm (CDT).

2 HD WEB DEMANDPLANNING LAB 2024 copy

The Kinetic presentation is scheduled for Wednesday, May 22nd, at 4:20 pm (CDT)

3 HD WEB KINETIC 2024 copy

The Inventory Optimization Lab is scheduled for Thursday, May 23rd, at 3:15 pm (CDT)

4 HD WEB INVENTORY OPTIMIZATION LAB 2024 copy

 

To learn more about Epicor Insights, visit here: https://www.epicor.com/en-us/customers/insights

 

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 such as Disney, Arizona Public Service, and Ameren. Smart’s Inventory Planning & Optimization Platform, Smart IP&O, provides 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


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

 

 

Smart Software has been honored with the Epicor ISV Marketing Excellence Award
Belmont, MA, October 2023 – Smart Software is pleased to announce that it is the recipient of the Epicor ISV Marketing Excellence Award, recognizing Smart’s outstanding performance and contributions in driving successful marketing initiatives, campaigns, and innovation.

Pete Reynolds, Smart Software’s Vice President of Channel Sales, will receive the Marketing Excellence Award during the ISV Partner Briefing at Ignite. The event will take place in Dallas on Monday, October 23, 2023, from 10:45 am – 12:30 pm at the Gaylord Texan Convention Center.

Greg Hartunian, Smart Software’s CEO stated, “This recognition is a testament to the collaboration between the Smart and Epicor teams. Together, we’ve raised a great deal of awareness about the benefits of better inventory planning and forecasting.  We look forward to helping more customers in the year to come and launching our partnership to new heights.”

Smart Software is an Epicor Platinum Partner, the highest designation in the ISV Partner Program.

 

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 such as Disney, Arizona Public Service, Ameren, and The American Red Cross.  Smart’s Inventory Planning & Optimization Platform, Smart IP&O, provides 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 our website is www.smartcorp.com.


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

 

 

Smart Software to Present at Epicor Insights 2023
Smart Software to present Epicor Insights 2023 sessions on how to extend Epicor forecasting and inventory planning with Smart IP&O

Belmont, MA, May 2023 – Smart Software, Inc., provider of industry-leading demand forecasting, planning, and inventory optimization solutions, today announced that it will present at Epicor Insights 2023 in Las Vegas, NV.

Smart Software will lead two sessions focusing on specific approaches to demand forecasting and inventory planning that enable Epicor Kinetic and Epicor Prophet 21 users to increase profitability, improve service levels, and reduce inventory holding costs.  A third customer led session will profile how the use of The Smart IP&O Inventory Planning and Optimization platform drove substantial reductions in stockouts for a leading automotive mobility manufacturer.

Epicor Insight’s attendees may participate in any of the following sessions and are welcome to visit us at the Smart Software booth for a one-on-one consultation.

 

  • The Prophet 21 presentation is scheduled for Tuesday, May 16th, 1:20 pm (CST) 

Extend Prophet 21’s Forecasting & Inventory Planning with Smart IP&O

 

  • The Kinetic presentation is scheduled for Tuesday, May 16th, 2:25 pm (CST) 

Extend Your Kinetic Forecasting and Inventory Planning with Smart IP&O

 

  • The Customer Led presentation is scheduled for Wednesday May 17th, 2:20 pm (CST) 

Customer-Led Optimizing Critical Parts Inventory Using Smart Inventory Solutions

 

To learn more about Epicor Insights, visit here: https://www.epicor.com/en-us/customers/insights

 

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 such as Disney, Arizona Public Service, and Ameren.  Smart’s Inventory Planning & Optimization Platform, Smart IP&O 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 our website is www.smartcorp.com.

 


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

 

 

Handling Extreme Supply Chain Variability at Rev-A-Shelf

The Smart Forecaster

Pursuing best practices in demand planning,

forecasting and inventory optimization

Does your extended supply chain suffer from extreme seasonal variability? Does this situation challenge your ability to meet service level commitments to your customers? I have grappled with this at Rev-A-Shelf, addressing unusual conditions created by Chinese New Year and other global events, and would like to share the experience and a few things I learned along the way.

First, let me explain our situation. We import 60% of the parts we use to build our kitchen and bath accessories from China and Europe. Most of the year we were able to plan our inventory needs using a spreadsheet-based min/max approach. But not during Chinese New Year, which drives the planet’s greatest annual population migration. Chinese New Year shuts down production for up to two months, creating significant supply risk as we strive to meet our three day order fulfillment commitment.

We solved our problem, introducing statistical demand forecasting with the flexibility to extend lead times when necessary, the ability to reliably establish safety stocks that achieve our required service levels and a continuous reporting system that lets everyone know exactly where we stand. However, success required much more than a new piece of software. We needed to change the way we view future demand, supply risk and safety stock. Here are a few key things we did that made all the difference.

Stakeholder education and buy-in

Regardless of the project, it’s always best to enlist the buy-in of all stakeholders. We knew we had to do something to solve our problem, but there was bound to be resistance. Senior managers, for example, had developed a healthy distrust of software and wondered whether demand forecasting software could help. Our buyers had developed their own perspectives and procurement methods, and felt personally at risk as we considered new approaches.

People came around as they developed a common understanding of the problem and how we would address it. Education was a big part of the solution. We explained how forecasting works and key factors we should all understand: how to analyze trends, how to use “what if” scenarios, impact of shifting lead times, how to relate service levels to supply risk and safety stock and key performance indicators like inventory turns. Going through this process together, we all became stakeholders in the solution.

Use the Right software

When you have lots of part numbers and any sort of supply or demand variability, you just cannot forecast effectively with a spreadsheet. With our min/max forecasting system, we were planning to an average, and it wasn’t working. Average usage has inherent flaws for planning purposes—it’s always looking backward!

You need software that looks ahead, recognizes seasonal patterns and enables you to determine how much stock you’ll need to meet required service levels over varying lead times.

Fine-tune processes

When the old ways don’t work, you need to be open to adjusting your assumptions. Think less about where you’ve been, and more about where you want to be. Take a look at your lead times and plan to your desired service level. Last year’s history may not be the best predictor of this year’s demand. The same forecast horizon may not be appropriate for all products or certain time of the year.

Make the Forecast Actionable

It’s not enough to produce an accurate forecast and estimated inventory stocking levels. You’ve got to develop a way to make the information actionable for those tasked with using it. We developed a set of reports that enabled buyers to leverage better forecast and safety stock information. Now, at the end of every month, we produce a forecast report that provides a clear picture of current inventory, safety stock, past usage, forecasted usage, incoming deliveries (PO’s) and recommended order quantities.

Validate Results

You can, and we did, test our new methods against our own demand history. Still, an authoritative outsider can make acceptance easier. We commissioned a study by a professor at Louisville University’s College of Business who set one of her graduate students to the task. Through them we were able to reinforce what we saw happening from our results, and feel comfortable that we were on a good path.

All of these factors helped Rev-A-Shelf transform its demand planning process, to great effect. Today we are exceeding our service level targets, and our fill rate, based on a three day ship cycle, is showing steady improvement, and trending up. Overall, units-in-stock have stayed flat while supporting a 13% increase in sales.

John Engelhardt is currently Director of Purchasing and Asian Operations for Rev-a-Shelf, LLC in Louisville, KY. He has held a variety of management positions both in private business and public organizations. At Rev-A-Shelf he held the position of International Sales Manager and Director of Sales Support before assuming his current position. He can be reached at johne at rev-a-shelf dot com.

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