SYSPRO's Forecasting enables the entry of manual forecasts, as well as the automatic generation of forecasts via a variety of forecast algorithms, including those that compute for trends, seasonality and cyclical events. In addition, the module provides a competition forecasting method (also known as focus forecasting or the tournament method) which attempts to select the most suitable forecast algorithm based on a selected error measurement and your recent SYSPRO sales history data.
This enables you to compare results to determine which method is the most suitable for any particular item, whether you forecast on products at code, revision, release, or warehouse level.
A tracking signal is used to indicate when the validity of the forecast might be in doubt; those items with high forecast errors are highlighted and can be reviewed and adjusted as required.
The benefits of Inventory Forecasting
- Variety of forecast algorithms, including a competition method which automatically selects the best algorithm for the collection
- Analysis of product performance at stock code, warehouse, product class, supplier, planner or buyer level
- Enhanced data selection sets which carry through the entire process through into Inventory Optimization
- Application of seasonality factors
- Automatic updating of forecast history from sales in real time
- Powerful Pareto analysis