Forecasting is a powerful feature in Supplyit that when enabled makes predictions for future order based on past data and analysis of trends. Standard Forecasting requires the location to adjust orders and record waste daily for a minimum of 4 weeks. Workflows and Worksheets should be enabled to guide and ensure success.
Using Product Activity report to review locations readiness for forecasting
Reports on all Product Activity and is under Summary tab
- Add stores to the location filter
- Date range = dates you want to review
- Change column spec. to sales & waste or usage & waste
- Group = location, category & product
- Build report
Entering forecasting details
Edit Template
Click on Scroll to forecasting
Select Standard and enter Waste Factor and/or Waste Minimum
To set forecasting details, enter the Waste Factor (as a percentage) or the Waste Minimum (as the number of pieces), which is the additional amount of product that you intend to waste.
In order for the forecast order quantity to change with increased demand, you should enter a waste minimum of at least 1. A zero value will not allow the product to increase when waste for that product equals zero.
Click the Save Changes button
Tip::
- Products with forecasting enabled will display the symbol under Unit
- Forecasting can be enabled on some, or all products.
- Clone can be used to select all products that will have the same waste standard.
- Exclude orders that are out of the ordinary from forecasting.
Factors that could impact forecasting when enabled:
Supplier Rules - rounding and direction
Waste not being entered
Weather
Events - enterprise and/or local
Seasonal population changes
Note:
Some Supplyit accounts use advanced forecasting. Those order templates will show an option to select Sales or Standard from a drop-down menu in the Forecasting Column. When Sales forecasting is selected, a Day Span section will show to the right of the Waste Minimum column.