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.



READ MORE NOW


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

Manufacturing Requirements Demand and Supply Pegging [Video]

Posted by Gerry Poe


Manufacturing 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.



READ MORE NOW


Tags: Supply Chain Management, Manufacturing, SYSPRO, MRP

Please share!
   

Visual Planner
for SYSPRO Factsheet:

visual planner

Recent Posts

The Compete
Enterprise ERP Assessment:

enterprise erp assessment