Belmont, MA September 26, 2002 Smart Software, a supplier of enterprise demand forecasting, planning and inventory optimization software, announced that eight companies recently purchased licenses for SmartForecasts. Included in this group are Milliken and Co., Rally Manufacturing, Niagara Cutter and Grupo Gerdau, the largest supplier of steel products in Brazil. These companies purchased site licenses for SmartForecasts Enterprise Edition with its patented intermittent demand forecasting technology.
Because intermittent demand affects capital goods manufacturers, as well as the $700 billion spare parts business in industries such as aerospace, automotive, electronics, industrial tools, and utilities, Smart Software said the SmartForecasts Enterprise's intermittent demand forecasting technology helps companies produce accurate demand forecasts for slow-moving, infrequently demanded items.
Niagara Cutter, with headquarters in Amherst, N.Y., said it is using SmartForecasts Enterprise to reduce inventories and, at the same time, reposition its inventory to better meet customer demand. The company produces tooling products and tool technology for the metalworking industry. More than 95 percent of the company's 24,000 stock-keeping units demonstrate intermittent demand.
"Typically in today's market the manufacturer has to stock, and you'd better have on the shelf exactly what your customers need," according to Sherwood Bollier, president of Niagara Cutter. "Since we started using SmartForecasts we've discovered new ways to drastically reduce our inventory and reposition our assets to increase customer service levels. Looking ahead, we expect to achieve a 50 percent reduction in total inventory resources and a doubling of inventory turns."
Additionally, the following companies have also purchased SmartForecasts licenses: Beretta U.S.A., a firearms manufacturer; Keeper Corp., a manufacturer of tie-downs, towing and bungee cord products; Vulcan Materials, a producer of construction aggregates and chemicals; and Tyco Electronics, Germany, a manufacturer of electronic component products.