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SBIR Phase I: Cluster-Based Forecasting of Intermittent Demand for Service and…

Award Information

Agency:
National Science Foundation
Branch:
N/A
Award ID:
91130
Program Year/Program:
2009 / SBIR
Agency Tracking Number:
0944261
Solicitation Year:
N/A
Solicitation Topic Code:
N/A
Solicitation Number:
N/A
Small Business Information
Smart Software Inc
4 Hill Road Belmont, MA 02478-4349
View profile »
Woman-Owned: No
Minority-Owned: No
HUBZone-Owned: No
 
Phase 1
Fiscal Year: 2009
Title: SBIR Phase I: Cluster-Based Forecasting of Intermittent Demand for Service and Spare Parts
Agency: NSF
Contract: 0944261
Award Amount: $149,997.00
 

Abstract:

This Small Business Innovation Research (SBIR) Phase I project will advance the state of the art in forecasting the demand for spare and service parts, which is typically ""intermittent"" and difficult to forecast. Intermittent demand is characterized by a high percentage of zero values, interspersed with random nonzero integer demands that often have high variance. This project moves beyond the conventional one-item-at-a-time approach toward a new methodology based on identifying and exploiting clusters of parts which respond to common drivers. The broader impact/commercial potential of this project will be improved demand planning and inventory management for companies with large inventories of spare or service parts. These are the second largest item on the balance sheets of many companies, and spending on them amounts to roughly 8% of the U.S. Gross Domestic Product. With so much capital invested, minimizing inventory becomes a priority. On the other hand, with shorter cycle times and greater competition across all sectors, maintaining sufficient inventory to meet service level commitments is also essential. These twin pressures require accurate demand forecasts in order to determine the inventory ""sweet spot"".

Principal Investigator:

Nelson S. Hartunian
DPhil
6174892743
nsh@smartcorp.com

Business Contact:

Nelson S. Hartunian
DPhil
6174892743
nsh@smartcorp.com
Small Business Information at Submission:

Smart Software Inc
4 Hill Road Belmont, MA 02478

EIN/Tax ID: 042729939
DUNS: N/A
Number of Employees:
Woman-Owned: No
Minority-Owned: No
HUBZone-Owned: No