Comprehensive monthly forecasts and configurable demand modelling
We’ve listened to feedback from our users and now come up with a brand new forecast engine plus special features to help you see your forecasts and plan your supplier orders in advance even easier than before.
See your monthly sales and monthly forecasts in one simple graph
Easily see your previous six months sales and your predicted sales for the next six months.
Override the system predictions with your own forecasts
Easily set your own forecasts manually when you know you’ll have different demand than historical trends. Has a product been replaced by another one, and no longer needed? Or are you expecting a large order from your main customer in 3 months time? No problem, just enter it in then the system will recalculate your demand and optimal order quantities in real time.
Select your forecast options per SKU
Configure the following options for your forecasts to ensure they are as real and practical as possible:
- Seasonality – check whether seasonality should apply to future forecasts for any product. If so, seasonality is automatically applied from your sales history.
- Growth p/a – if an item’s demand is expected to grow or decline over the next 12 months, enter this in to recalculate the forecasts
- Sales history period – which sales history period is the best predictor for the future? If demand has changed recently, for example, only the last 3 months could be the best predictor of the future. If seasonality is important, a whole 24 months might be relevant to gauge seasonal trends
- Forecast model – select between linear, logarithmic (i.e: an increase that levels off), or quadratic trends (i.e: an increase followed by a decrease, or vice versa), or a rolling average. The system also has an auto demand model based on AI to automatically select the most relevant model.
Set each option to have your forecasts, optimal reorder point, optimal order quantities, and replenishment due dates recalculated in real time.
Better sales history visibility
See a tabular breakdown of your sales history, with filter dates, and easily see which sales were made at which location.
For items used in a manufacturing process you can also see the sales of their related finished goods & relevant BOM quantities.
You can also exclude items from the demand analysis, so that they won’t be taken into account for future forecasts. Ideal if you have had one-off sales orders that won’t be made again.
See Revenue Forecasts
Your sales and accounts teams will love this. See how much projected revenue you’re forecasted to make over the next 6 months for each product.
Combined with the existing ‘Fastest Moving’ and ‘Most Valuable’ features already available in StockTrim you’ll be able to forecast which of your items will bring in the most revenue.
Features Are Available from Monday 21st October 2019
