Forecasting

Forecasting is the key to effective forward planning. The Aware Forecasting module analyses demand history over 36 months of history and models a month-by-month projection for 12 to 24 months into the future. Various statistical models are tested and the one with the best accuracy is chosen by the system. Seasonality is calculated and floating demand events, such as Easter, can be modeled and incorporated into the forecast.
The forecast can be created for each product at each site or summarized by region or product grouping.
The forecast may be generated by month or week. If weekly forecasts are required it will calculate the statistical forecasts by month and then break it down into weeks based on a management applied weighting of weeks in the month.
Management can review the forecast graphically and apply market intelligence. The accuracy of both the system generated forecast and the management changes to the forecast are continually monitored.
The resulting forecast is used by in Master Scheduling.
Material Requirements Planning (MRP) uses the forecast based on planning parameters applied when running the forecast such as using the forecast from a nominated number of days into the future.