Smart Inventory Planning and Optimization (IP&O) is an integrated set of native web applications for demand planning, inventory optimization, and supply chain analytics that drives Sales & Operations Planning. It provides a single, easy to use, easy to scale, easy to collaborate, environment with robust inventory and forecast modeling. Our “implement one, implemented for all” approach means you can address a discrete set of planning requirements initially such as demand planning & forecasting – and have the opportunity to utilize more of the suite as your requirements grow. And you can do so without having to invest in additional data acquisition and implementation efforts. Smart IP&O is a convergence of robust demand forecasting methodologies, inventory optimization modeling, and consensus demand and inventory planning delivered via in an easy to use web interface accessible via any browser.
Smart Inventory Optimization (SIO™) is available on Smart’s Inventory Planning and Optimization Platform, Smart IP&O. It delivers inventory policy decision support and the means to share, collaborate, and track the impact of your inventory planning policy helping realize millions in savings by improving customer service and reducing excess stock. You can forecast projected metrics such as service level, fill rate, holding costs, ordering costs, and stock out costs. Users can identify overstocks and under stocks, reforecast optimal stocking policies, share proposed policies with other stakeholders, collect feedback, and establish a consensus inventory plan. And unlike traditional inventory planning systems that rely on rule of thumb approaches or require the user to arbitrarily set sub optimal service level targets, Smart Inventory Optimization prescribes the optimal service levels for you. Users can optionally assign service level constraints to ensure the optimization engine respects business rules. SIO provides the required inventory planning parameters for a variety of replenishment policies such as Reorder Point/Order Quantity, Min/Max, Safety Stock Planning, and Order Up to levels.
With Smart Inventory Optimization you can:
Smart Demand Planner™ is a consensus demand planning and statistical forecasting solution available on Smart’s Inventory Planning and Optimization Platform, Smart IP&O. Smart Demand Planner aligns strategic business forecasting at any level of your product hierarchy with granular forecasts of the item mix to improve forecast accuracy. It provides a statistically sound, objective foundation for your sales and operations planning process (S&OP). Smart Demand Planner’s collaborative workbench enables forecast overrides to be applied, imported, reviewed, and approved by authorized users driving the consensus plan. Forecast accuracy is measured helping ensure that the best possible forecast is delivered to the business at both the aggregate and item mix levels driving more efficient sales planning, budgeting, production scheduling, ordering, and inventory planning.
Smart Operational Analytics (SOA™) is a native web reporting solution available on Smart’s Inventory Planning and Optimization Platform, Smart IP&O. It provides a fast, easily understood, current perspective on the state of your inventory, its performance against critical metrics, actual supplier lead times, opportunities to rebalance stocks across facilities, and help you uncover root causes to operational inefficiencies. SOA automatically refreshes as often as you’d like providing all stakeholders immediate, up-to-date reporting on your operations and performance. You’ll have constant visibility of inventory levels, orders, shipments, and supplier performance to ensure you’ll always be in tune with the state of your operations and resolve issues before they become problems. Enhance visibility. Improve responsiveness. Increase your bottom line.