Program features
The page contains a list of Forecast NOW! For ease of navigation, all functions are divided into 10 thematic sections according to the corresponding tags.
Stock calculation
Account for POS Merchandise Display Criteria
Forecast NOW! automatically factors in information on required on-shelf stocks for in-store displays.
Shelf life and expiration forecasting
Forecasts leverage product shelf life and inventory expiration for inventory optimization.
Automatically calculates seasonal variations and trends
Forecast NOW! automatically integrates seasonal demand from historical data for a given product or product group, allowing you to forecast monthly, weekly, or even daily seasonal variation.
Optimize shipping based on load constraints
Optimize shipping based on load building constraints such as quantity, weight, size, and transport capacity in order to maintain inventory turnover and improve profit margins.
Consideration of sales of equivalent products and substitutes
Frequent SKU changes and a large number of substitute products require special attention. When calculating the optimal inventory level, the program will automatically take into account sales of similar products.
Restoring demand when products go out of stock
The program automatically detects out-of-stock periods in the past and applies forecasting or demand recovery algorithms to these periods.
Consideration of product storage areas
Forecast NOW! takes into account the sizes of different storage areas and the cost of storing products in different areas. It signals when the storage area may be possibly overflowing.
Calculation of the optimal service level
For each product, the program will calculate the optimal level to satisfy demand in order to maximize company profits and reduce total costs and losses from stocking shortages, storage, product delivery delays, fines for failure to deliver products on time, and financial costs.
Demand forecasting for 99% of the product range
The program is able to effectively manage both fast-moving consumer goods X and for products with irregular or seasonal demand Z (one sale per week or month).
Peak Sales Accounting
Peak, unusual sales will be detected by the program and filtered to their closest representative sales. This helps you avoid supply and inventory planning based on peaks sales, which are usually fulfilled on an order-by-order basis.
Order generation
Order generation for suppliers
Forecast Now! is designed to help you generate supplier orders, determine your optimum inventory level, and optimize orders to suppliers or distribution centers.
- How to generate orders?
- How to set lead times and ordering schedules?
- How to determine the optimum warehouse inventory level?
- How to set up the order table?
- How to set up automated order generation?
- How to save an order?
Create an Order/Replenishment Schedule
Generate orders for suppliers with a single click based on your delivery/replenishment schedules, lead times, and manufacturing times.
Automatic Order Generation
Forecast NOW! helps you forecast orders and deliveries for selected time periods so you can create supplier-specific order schedules, anticipate product deliveries, and warehouse space for specific months.
Automated product range management
Automatically determine which SKUs and new products should be kept in stock and generate orders accordingly
Customized scheduling around business days
Forecast NOW! uses a working and holiday calendar to more accurately forecast demand, ensuring that you don't count low sales on holidays or non-working days. Automatically generated order schedules will ensure that orders are put through on working days.
Consideration of subtle details concerning deliveries
Delivery and manufacturing times, the units of measurement (UOM), the minimal order quantity (MOQ), the weight and size characteristics of the products, and other criteria are taken into account.
Autopilot mode
Forecast NOW! can automatically generate orders without user intervention. You can leave the program to calculate your orders overnight, and in the morning it will present you with a report of all of the completed orders.
Inventory replenishment strategies
Forecast NOW! supports inventory replenishment strategies. It lets you generate orders based on a periodic strategy (orders will be placed in accordance with an established schedule, such as, for example, every Tuesday and Thursday) and a reorder point schedule (an order will be placed when the stocks reach a predetermined level).
Supply Calendar
Generate all the supplier orders you need with one click based on your reorder point schedule and lead times.
Balancing
Analytics for supply chains and logistics
Forecast NOW! can create a customized supply chain network configuration for various product groups across the whole chain - starting with regional distribution centers, to local warehousing, and final delivery to a specific POS. ForecastNOW helps you know exactly how much to send to regional warehouses based on downstream sales, and calculates available warehouse inventory levels for deliveries to retail locations.
Inventory routing from distribution centers
Forecast NOW! analyzes demand and inventory across the distribution center and supply chain along with timing and delivery costs to find the optimal distribution of inventory.
Optimize order shipments by transport type
Forecast NOW! helps distribute orders across your fleet, allowing you to plan for the required number and type of trucks to route deliveries to retail stores.
Collection of the regional warehouse dead stock at the distribution center
Forecast NOW! will determine dead stock at the regional warehouses and will propose the optimal amount to be moved to the distribution center, so that a sales promotion of these products can be subsequently organized, for example.
Balancing inventories between regional warehouses
The program allows you to calculate how product stocking levels can be profitably internally distributed between regional warehouses while taking into account logistics costs, distances, price differences, demand, and product stocks. This way, Forecast NOW! helps you to balance product stock between locations.
Marketing promotions forecasting
Analysis of promotions and marketing campaigns on demand
Forecast NOW! analyses the effect of past promotions on demand so you can gauge response and promotion effectiveness, and uses projected impacts and returns on future marketing campaigns to determine what to order.
Visualization
Visualization
The program lets you conveniently configure key reports for each user, including which columns each user wants to see. You can customize the table color schemes as needed. In addition, each buyer can conveniently work with only their particular product range by using filters.
Safety
Configuration of user privileges
You configure user access privileges as needed and assign different user roles: analysts can manage settings and run analyses, while purchasing managers are limited to placing orders.
Action logging
All user actions are tracked so you can identify the root causes of unwanted situations, whether you're dealing with a stock shortage or overstock!
Integration
Verification of imported data
Forecast NOW! verifies imported data and gives recommendations on fixing any source data errors and issues.
Save and export custom reports and data
Reports and fulfilled orders can be easily uploaded to sales accounting systems. Forecast NOW! completely configures and remembers the format that information is saved in.
Data import
Data is automatically exchanged with the accounting system (1C, SAP, Oracle, Axapta, etc.) in the background, and the user is not required to manually update the data.
Keeping data up-to-date
The system ensures that the data is up-to-date. If necessary, it issues timely reminders of the need to synchronize with the sales accounting system.
KPI Analysis
Inventory KPI analysis
Monitor a large number of inventory KPIs for a specific time period: inventory turnover; coverage factor; shortage and lost profits; current stocks; return on inventory; overstock; size of reserves for product range that is not stocked in warehouse; average sales and remaining inventory. Look at data for specific products, product groups, suppliers, and product category managers.
Overstock Analysis
Forecast NOW! will help you assess trends in over stock as well as determine the stocking threshold for overstock (for example, the program will assume a product that hasn't sold in two months won't be sold within a year).
View inventory KIP trends
Forecast NOW! can generate charts of changes to average sales and residual product stocks, inventory turnover and demand as well as return on inventory and profits. You can see whether the inventory management for a particular group of goods is effective and evaluate whether the trends are positive (for example, inventory turnover may decrease due to large purchases and satisfaction of customer demand – by assessing trends in inventory profitability, you can understand whether this has a positive impact on the company's operations).
What-If analysis
See how stocking and inventory management KPIs would respond to changes in service level, lead time, and other user-input variables, and adjust software settings accordingly to fine-tune your results.
Analytics
Historical Sales and Inventory Data
You can see trends in sales and inventory levels with user-selected filters and run any statistical analysis you need (averages, coefficient of variation, etc.)
ABC-XYZ and cross-ABC analysis
Forecast NOW! identifies the products with the highest value and demand, and products in which you may have invested a lot of money but which are failing to deliver value for your bottom line. ABC analysis can be run for past and future periods, using two or three variables. You can also look at the effectiveness of partnerships with different suppliers or the product range management performance of various product managers.
Inventory shrinkage
Forecast NOW! will help you to determine periods of inventory shrinkage (products not placed on shelves, peeled off price tags, etc.) and resulting lost profits. You can also determine the products/product categories most frequently affected by inventory shrinkage in the previous period and see which products aren't selling due to display issues, etc., to help solve problems in real time.
Product range analysis
This feature will help you to identify products that need to be retired, overstock and dead stock, incorrect inventories, and custom prices or sales.
Category-Level Insights
Forecast NOW! compares various product group KPIs and identifies problem products, for better inventory visibility. Consider an example of product groups with large average sales but low inventory turnover and large minimum safety stock numbers - in this case you would want to purchase smaller volumes. You can also determine top-10 groups by sales, level of service, inventory, and inventory turnover.
Strategic demand and inventory forecasting
Forecast NOW! can forecast product demand in physical and monetary units, estimate sales results based on user-input scenarios and data, and tell you what inventory levels are needed to achieve your desired sales results.
Supplier Management
Forecast NOW! will help you to determine the optimal supplier for a product while taking into account:
- delivery deadlines and costs;
- short deliveries;
- price lists;
- minimal order quantity (MOQ) and order amounts;
- units of measurement (UOM);
- payment delays;
- the cost of processing one SKU;
- the expiration dates of products.
Optimal order frequency
The program can help you to determine the optimal order frequency from suppliers while taking into account the delivery deadlines and cost of orders as well as any limitations (minimal order quantity (MOQ), order amount, and units of measurement (UOM)) for a particular supplier
Analysis based on any property and product category data
All analyses can be performed for any period of interest for specific product items, product categories, suppliers, countries of origin as well as any other properties of the products. You can quickly determine the top 3 suppliers, find the product items with the greatest opportunities for increased profits, determine the groups of products with the largest dead stocks, and evaluate overall trends at retail stores.