Advanced Forecasting
Advanced Forecasting, a third-party application, maintains an efficient operation and healthy bottom line by implementing an automated and organized approach to forecasting. This approach ensures that you can determine that the right amounts of raw materials and components are at the right place and at the right time, in order to best meet customer demand. Forecasting integrates with SyteLine to help you quickly calculate more accurate forecasts and optimal safety-stock levels.
Forecasting is a comprehensive set of tools that calculates and manages the demand forecasts that drive material planning using statistical models and collaborative processes. A variety of analysis and monitoring tools can help you determine product and market trends and managing inventory levels.
Multiple statistical models are available to use in projecting demand including Moving Average, Horizontal (Exponential Smoothing), Lumpy, Trend, Seasonal, Trend Seasonal and Holt Winters.
Using Forecasting with SytePlan for sales and operations planning
Forecasting can be a component of a sales and operations planning (S&OP) process to set goals and manage attainment of those goals, aligning company activities to balance supply and demand. The optional SytePlan third-party application can work with the Forecasting application to create annual sales/operations plans, manage supply chains, control inventory, and manage backlog and on-time performance. After a forecasting process has been implemented with the Forecasting application, the process can be expanded into a complete S&OP process with the SytePlan application.