Forecasting
Read the history and predict the future
Forecasting is the extrapolation of historical data into projections of future needs.
Manufacturing Lite's Forecasting module will read your past history, and determine whether each item is seasonal, flat, or trending up/down. The planning system will automatically create Purchase Orders, Transfer Orders, Production Orders, Kit Assemblies, or whatever it takes to keep your plant running smoothly by replenishing inventory just as it is needed.
The automation of future orders depends on Forecasts, which can be system-generated, uploaded from customer spreadsheets, or manually entered.
The system-generated data can read your past activity for a number of periods that you specify and project future requirements for a number of periods that you specify. Perhaps you will read the past 12 months of history and predict the next 3 months requirements. You can even view such a forecast in a graph.
Seasons, trends, sales patterns
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Sell your snow skis in winter and your water skis in the summer. Proper forecasting will recognize patterns from seasons or sales trends and predict your next quarter's sales confidently.
Focused forecasting
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Each item is tested with multiple forecast methods, embodying the best practices of modern manufacturing methods, such as seasonality and trend analyses. After examing all the results, the "best fit" for the data is selected and displayed.
Three sources for forecasts
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1. Automatic, system-generated from parameters you specify (the most useful method)
2. Uploaded data from spreadsheets supplied directly from individual customers
3. Manually entered
Forecasts feed the material planning module
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Forecasts provide data as future demand and Manufacturing Lite will suggest regular Acumatica orders to replenishment your inventory accordingly timed when you need it.
These are called Planned Orders and you can review and edit these before running the Convert Planned Orders process, which creates the real orders.