Inventory Forecast Feature

Inventory Forecast Feature

The Inventory System users will be able to access the Approvals menu from the System Configuration screen. They may also assign vendors or customers to be included within the cycle choosing one or two approval cycles. Without assigning vendors or customers to the cycle, the Purchase Order or Sales Order will be automatically approved.

Within this menu, users are asked to select the first and second approvers, giving the user the option of appointing either the creator of the PO’s or SO’s manager or any other administrative security level person. The user also has the option of notifying those associated of any pending requests, approvals, or rejections by email.

Order management system configuration
Order management system rejection

Forecasted Report Capabilities

System users can either choose one of the system’s generated forecast reports or simply create a new report that will fit organizational needs. In addition, users can favorite their forecasted report for easier access.

Creating a new configurable Forecast Report only takes 3 easy steps.

Step One Includes:

- Naming the Forecasted Report.
- Choose to forecast based on the Received Inventory or Issued Inventory.
- Determine Inventory items.
- Forecast based on the Received Inventory, select Vendors.
- Forecast based on the Issued Inventory, select Customers.
- Forecast based on the Issued Inventory, choose to consider the returned Inventory items.

Order management system configuration
Order management system rejection

Step Two Includes:

- Determining intervening time (Monthly), and the interval value.
- Designating Forecast start date, or select the next possible date chosen by the system.
- Choosing the Forecasting method (Moving average).
- Defining the overage or shrinkage percentage value, if you wish to add or subtract from the forecasted value.
- Choosing the replenishment percentage.


Step Three Includes:

- Adding notes to the report.
- Save, Save and Close and the ability the preview the Forecasted Report.

Order management system configuration

Inventory Forecast Feature - Video

Learn about our top rated Barcode-based Inventory System’s Inventory Forecast Feature. Watch how our robust system can assist in enhancing the inventory replenishment process.

Inventory Forecasting Benefits
  • Accurately manage Inventory based on different time intervals
  • Avoid overstocking and understocking situations.
  • Gain powerful insights on how much, when, and which inventory items should be replenished.


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