Pittsburgh, PA — June 18, 2003 — SmartOps Corp., a provider of supply chain optimization software solutions, this week introduced version 3.0 of its Multistage Inventory Planning and Optimization (MIPO) software.
The provider said the new software offers extended optimization capabilities; data integration, management and maintenance; flexibility in creating, modifying, comparing and executing on planning scenarios; workflow and usability enhancements based on supply chain planner user feedback; customizable supply chain visualization; and advanced reporting capabilities.
SmartOps said MIPO also determines the best inventory and order fulfillment plans given inherent uncertainties, multi-location and inventory stage complexities and customer service goals.
Dr. Sridhar Tayur, CEO and founder of SmartOps, observed supply chain and IT personnel must frequently gather, analyze and configure data associated with their supply chains in order to make planning decisions that meet competitive service levels for growing product portfolios. Tayur said the new solution has algorithms that directly address the variability and uncertainty in multistage supply chains without making costly, simplifying assumptions.
"Over-simplification leaves the planners no option but to continue their reliance on spreadsheets and ad-hoc rules of thumb, causing them to over-react to problems rather than to proactively manage the supply chain," Tayur explained.
MIPO 3.0, according to Tayur, generates inventory targets for each stage of the supply chain, while providing visibility into each reason inventory is needed — including safety, cycle, pre-build, in transit and merchandising stock requirements by item or stock-keeping unit (SKU) — to meet desired service levels and response goals.
Tayur also said the new software offers a way for users to load and model supply chains to generate planning targets that can be executed upon immediately, while the enterprise implementation enables customers to improve the performance of their supply chains.
The MIPO solution runs on a variety of leading technology platforms.