Forecast PRO: Should I connect with my ERP Software.? YES Dooh!
Demand Planners, Sales and Operations planners, Sales Forecasters are always interested in how the Forecast Pro uses data sourced from all over the organisation. Demand Managers are constantly trying to improve the accuracy of forecasts using budgeting and forecasting software. They want to reduce the use of spreadsheets and in particular focus on the most inaccurate forecasts. Many item forecasts with low volumes and patchy turnover can be as low as 20% accurate.
If you are running a large Retail, Distribution or Manufacturing company you might have data produced from your Trend purchasing screen supplied as part of their ERP Software suite. This data is also produced by a Manufacturing MRP output report after Materials requirement planning is completed. You can automoate link file so this data is pushed into Forecast Pro where the Forecast Pro expert selector operates.
Forecast Pro examines the data (each line or item) and then selects the most appropriate statistical forecasting methodology for each individual item on the list using such forecasting methods such as Holt Winters, Exponential smoothing. It's important to appreciate this point as spreadsheets simply use the same very low tech forecast approach for everything.
What should happen next is that the Forecast Pro user will having satisfied themselves that the forecast is satisfactory will push the data towards the Purchasing & Logistics department.
We have customers who improved accuracy on fast moving parts with good sales histories by as much a 8 % almost immediately and as much as 30% in the short term on hard to forecast slow moving parts.
And remember whatever you do don't just leave Forecast Pro run in the corner unattended, friendless and all alone. It's an everyday product which can continuously improve forecasting accuracy into the future. Become a friend of Forecast Pro by trying Forecast Pro for yourself at no charge. Click here for more details: Forecast Pro