How Forecast Pro improves sales, stock and purchasing forecasting
It's easy to demonstrate the better statistical forecasts produced by
Forecast Pro for prospective customers. The first reaction is that people realise they can spend time analysing and analysing their data instead of building unproductive worksheets. We ask people to send us their time series data of SKU sales histories, stock levels, purchasing histories. We then demonstrate Forecast Pro powerfully improved forecast. When we demonstrate the advantages of statistically based forecasts reflecting trends, seasonality, promotions, highs and lows the next question that people often ask, how do I use this, what is the next step.
The next stage with Forecast Pro is for us to arrange a visit to the customer's site and review planning on site and suggest ways to implement Forecast Pro on site. An example of a successful Forecast Pro project is with a Heathrow based customer. There we implemented Forecast Pro into their Heathrow based IT, Planning and Finance centre. For them Forecast PRO is now optimising their stock levels while also providing stock data in order to generate purchase orders. Their current forecasting module in their financial system (ERP) was simply reading the previous 3 months of activity and projecting that forward missing any year on year seasonality, peaks and troughs. In a very short period we wrote a program on site to import all their raw data from their ERP system and then we generated a Forecast PRO forecast for over 20,000 stock items and imported the optimized data back into their ERP system. That is the power and capability available from Forecast Pro.
Due to the flexibility and technology of Forecast PRO we completed the consulting, programming, training, testing and Go-Live phase in less than 5 days. It is intended that within 4 months we will reduce their stock holdings on the fast moving parts by up to 12.5% on over £7 million pounds worth of stock. The next stage is to focus on the parts which are consistently under forecasted or over forecasted. This continuous process will drive a forecasting improvement in the business on an ongoing basis working with demand planning, sales, stores, finance and purchasing none of which would be achievable without Forecast Pro.
At MXI we are keen for people to experience the power of Forecast Pro fist hand. That is why we have arranged a free 30 day demo of Forecast Pro: Click here to register: Forecast Pro Trial
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