Smart Software

SmartForecasts allows users to create statistical forecasts using proven forecasting techniques such as Croston's, which is well-suited for intermittent demand items. It improves forecast accuracy by factoring in historical demand patterns, trends, and other time series components to generate demand predictions.

Users can forecast demand at multiple aggregation levels from a single source of historical data with Smart Demand Planner. Users can import external forecasts from other systems and drill down to view forecasts by customer, location, or other attributes.

Smart IP&O optimizes inventory stocking policy by building on the previous forecasting and planning features and adding other functions for inventory policies. It allows users to set optimal reorder points, order quantities, and safety stock levels that achieve target service levels at the lowest possible inventory investment.

The platform provides a Sales & Operations Planning (S&OP) and Integrated Business Planning (IBP) solution through customizable reporting tools. It gives stakeholders visibility across inventory, financial, forecast and plan metrics. Forecasting and optimization data from Smart IP&O populates these reports to drive informed, cross-functional decision-making. Smart's approach aims to support enterprise-wide operational excellence through integrated sales, operations and financial planning.

The software addresses the challenges of forecasting and planning intermittent demand for service parts and components. Statistical algorithms optimize reorder points and safety stocks for slow-moving, lumpy demand items. Agile models respond quickly to changes in failure patterns or new product introductions. Imbalanced demand distributions are effectively modeled to minimize stockouts and optimize total inventory investment.

Smart IP&O provides automated dashboard views and reports on key inventory performance metrics like fill rates, inventory turns etc. The reports empower data-driven decisions to refine policies for inventory management and boost overall operational efficiency.

The system offers planning as a Service (PaaS) through its consultants, who leverage tools like Smart IP&O. Consultants can generate forecasts and optimize inventory policies. It gives companies access to advanced analytics without significant costs or staffing needs.