Inventory Forecast Feature
The Inventory Forecast Feature offers users predictions or estimations for future periods based on historical inventory data. Our Forecasting Inventory Feature involves monitoring present and past inventory to understand the future. Our robust Inventory System, using a scientific approach, considers the received Inventory or issued Inventory in previous months in order to present the forecasted data.
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.
Features of our Inventory Forecast
Gain powerful insights on how much, when, and which inventory items should be replenished
Accurately manage Inventory based on different time intervals
Avoid overstocking and understocking situations
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
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