softwareSmart IP&O
5 Reviews
Poor inventory management results in potential revenue loss. Explore the simplicity of Smart software and navigate complex inventory planning and optimization (IP&O) tasks. The software offers an innovative and streamlined approach to balancing your business's demand, supply, and finances. Explore its features today!
Smart IP&O Specifications
Time Tracking
Task Management
Reporting
Budget Management
What Is Smart Software?
Overview
Smart software is a robust tool designed to handle the complex challenges of inventory planning and optimization (IP&O) and demand planning. It uses advanced statistical forecasting methods and optimization techniques to help businesses wield inventory as a strategic asset.
The software offers several solutions, from statistical forecasting, demand planning, and inventory optimization to supply planning. Additionally, it features SmartForecasts, a proven solution for quick deployment and forecast accuracy.
What Is Smart Software Best For?
Smart software excels in swiftly generating accurate demand forecasts and optimizing stocking policies. It empowers companies to understand the cost/benefit of each inventory decision. By using Smart software, businesses can elevate their service levels while reducing costs.
Smart Software Pricing
The vendor offers the following three Smart IP&O pricing plans:
- Small Business - Starting from $2000/month, billed annually
- Medium Business - Starting from $5000/month, billed annually
- Large Business - Starting from $10,000/month, billed annually
Smart Software Integrations
Users can deploy out-of-the-box connectors and file-based integrations for connecting Smart software with enterprise resource planning (ERP) solutions. Some featured integrations are as follows:
How Does Smart Software Work?
Follow these steps to start with smart inventory optimization and demand forecasting:
- Log in to the Smart software using your credentials
- Utilize the statistical forecasting feature to create accurate predictions
- Apply forecast overrides as necessary
- Measure the accuracy of your forecasts using the provided tools
- Use the demand planning function to forecast at multiple levels and import external forecasts
- Develop a consensus forecast by forecasting demand by customer
- Optimize your stocking policies using the Smart IP&O feature
- Predict service levels and inventory KPIs and proceed with supply planning and reporting
Who Is Smart Software For?
Smart IP&O supply chain management solution is suitable for many businesses, particularly those in the following industries:
- Manufacturing
- Distribution
- Maintenance
- Repair and operations (MRO)
- Spare parts
Is Smart Software Right For You?
If your business requires an accurate and efficient way to manage inventory, plan demand, and optimize supply chains, then Smart software might be the right choice. Its ability to provide probabilistic forecast modeling helps inventory planners make informed decisions. Moreover, Smart software is a secure cloud-native platform, ensuring that your data is protected while offering scalability to grow with your business.
We recommend reading Smart software reviews to see how existing users benefit from the platform. Contact our customer support team at (661) 384-7070 for more details.
Smart Software Pricing Plans
The Smart IP&O cost depends on your company's size and needs, with a starting price of $2000/month, billed annually.
Smart IP&O Features
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.
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Pros and Cons of Smart IP&O
Pros
- Easy to learn and navigate
- Reliable ERP integrations
- Ability to compare multiple forecasts
- Customer support team is quick to respond
Cons
- Reporting feature can be improved
- Limited self-help resources
- API access is not available
Smart IP&O Reviews
Overall Rating
4.6
5 Reviews
Rating Distribution
5
(3)
4
(2)
3
(0)
2
(0)
1
(0)
Share your experience
Overall Rating
4.6
5 Reviews
Rating Distribution
5
3
4
2
3
0
2
0
1
0
Share your experience
Frequently Asked Questions
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