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Smart Inventory Optimization

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: Identify where you are overstocked and understocked. Modify planning parameters based on your business rules, service targets, and inventory budget Leverage the optimization logic in SIO to prescribe planning parameters and service levels for you. Compare proposed policies to the benchmark Collaborate and develop a consensus inventory plan Automatically generate revised planning parameters as demand and other inputs change

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