Inventory Forecasting Optimization Introduction

Posted by Gerry Poe

Inventory Forecasting Overview


Inventory Forecasting is the first module within the Inventory Optimization suite. The full suite of modules comprising:

  • Inventory Forecasting
  • Inventory Families and Groupings
  • Inventory Optimization

Before inventory levels can be optimized, it is essential that sales forecasts are as accurate and reliable as possible. The Forecasting Module addresses this requirement by providing the tools to achieve this.

Given that the forecasting algorithms base their calculations exclusively on sales history, it is essential that the sales history (as held in the forecasting system) is an accurate reflection of the sales demand made on the company's inventory (i.e., it should include any sales lost because there was no inventory available to satisfy a demand).

The Sales Orders system outputs invoices, debit notes, credit notes and dispatch notes to the forecasting sales history. Also, Initial History Creation enables you to build the forecasting sales history using inventory movements as it's source.


Tags: Inventory Forecasting, material requirements planning, MRP, Food & Beverage

Manufacturing Requirements Demand and Supply Pegging [Video]

Posted by Gerry Poe

video manufacturuing requirements planning mrpManufacturing Demand and Supply Pegging Using Material Requirements Planning (MRP)

Businesses need to know how frequently to purcure and produce, when to order, and from whom. MRP, a component of ERP, is your on-board Material PHd.

MRP system looks at all included demand criterion, calculates supplies needed by when and from whom. This "psychic ability" comes from the system's connections associated to anything material and outsourced operations (sub-contractors). Then MRP creates "pegging" to support the supplies sourced from all demands included.


Tags: Supply Chain Management, Manufacturing, SYSPRO, MRP

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