Hey my boss wants accurate sales forecasts & I need help!
Testing times for everybody mean we are trying more and more ways to resolve problems. In our business we are constantly being asked by pressurised business owners and managers, how can I handle such erratic demand?, yet satisfy demand. I must reduce Stock, I can’t afford to hold it yet I must work with powerful suppliers otherwise they won’t give me stock when needed. Big problem and the answer is. DO the maths!
What do we mean? well maths includes statistics and elementary statists could be the answer to your problem. Sales forecasting software from MXI UK such as Forecast PRO examines trends in your sales, stock, purchasing histories. Statistics forecasting methodologies such exponential smoothing helps business everyday carry less stock meet weaker demand as it arises. The technical explanation is that statistical smoothing techniques common to sales forecasting software such as Forecast PRO weights recent sales, stock time series history (i.e. the financial crises & recession). In other words, recent observations are given slightly more weight in the forecast than the older observations. This is a very popular scheme to produce a smoothed Time Series.
Thats why we developed the very popular MXI free forecast review session. Send us your data and we will forecast it free online free. (UK/IRL) only:
We help companies and organisation to use Forecast PRO sales forecasting software exponential smoothing to detect seasonal changes in data by ignoring the irrelevant fluctuations irrelevant. Further we can select other methods such Holt Winters, simple trend-line or same as last year plus or minus a delta (if required), incremental growth.
Of course we encourage users to intervene directly themselves using the human experience and interaction to finesse the forecast. Sales forecasting software can’t be aware of increased advertising, reduced marketing, promotions, end of line, new product launches, etc. Sales forecasting software builds greater supply chain accuracy into the forecast. Results always need intepretation, human intervention and finessing.
Our Excel challenge works with organisation everyday to demonstrate how we can speed up forecasting, sales and operations planning, demand management. Check out the excel challenge for yourself to see how you can start moving in the right direction.
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