What is Supply Chain Forecast | Inventory?

Supply Chain Forecast | Inventory on Azure is a self-service, fully automated tool designed to generate accurate demand forecast plans and guarantee the availability of your products, while minimizing inventory. Supply Chain Forecast | Inventory eliminates all kinds of complexity associated with human intervention.

How do I get started?

To run Supply Chain Forecast | Inventory, you just need to select the tasks you wish to run: “Forecasting” or “Forecasting and Inventory Optimization”. After that you will need to follow the 3 simple steps:

Step 1: You provide the input data with a simple browse to the files on your computer.

Step 2: You launch the calculation

Step 3: Finally, you visualize the results and export them to your computer

What data does Supply Chain Forecast | Inventory require?

Supply Chain Forecast | Inventory requires your historical demand and the target service level for all items you wish to optimize. As a general rule, it is recommended in the first run to upload at least 24 months of historical demand. This is especially important for allowing the service to understand seasonality. However, you may also obtain good results with a shorter horizon.

What data does Supply Chain Forecast | Inventory provide?

Supply Chain Forecast | Inventory generates the forecast by item/area (monthly, weekly or daily), and the optimal inventory levels, including all stock parameters (target average stock, safety stock, order-up-to level, reorder level).

The forecasting engine is fully auto adaptive and applies the forecasting model which best fits the characteristics of the demand (from intermittent to regular). It can understand the selling trend of items depending on the stage of their life cycle and will select different forecasting models accordingly.

Do I need training?

No, you don’t need any training. Supply Chain Forecast | Inventory is a fully managed service – you don’t need to add data science and algorithmic knowledge. You just need to upload your historical demand data and set your service levels.

How is the cost calculated?

The pricing model for the Supply Chain Forecast | Inventory is a combination of a fixed monthly fee and a per usage hourly fee. The hourly fee is paid whenever the service is turned on. This means that it is available to upload files, run forecasting and optimization, check results, and download the results.

You should turn the service off to avoid paying this fee when the service is not meant to be used for a while. Once you turn it on again, the data you uploaded and results of previous runs will be available.

The Supply Chain Forecast | Inventory is turned on by default when subscribing the first time.

To turn the service off, the user should click on the “?” icon next to the ToolsGroup logo to access the help menu.

Are you facing more complexities?

If you have more than 50,000 SKUs or need a complete end-to-end supply chain planning solution, we have the solution for you.

Our flagship software, Service Optimizer 99+ (SO99+), automates and optimizes supply chain planning tasks including demand forecasting and sensing, multi-echelon inventory optimization, replenishment and S&OP.

SO99+ has earned widespread industry recognition as a ‘Leader’ in its class by Gartner, IDC, and Nucleus Research. Our customers include manufacturers, wholesale distributors and retailers in a wide range of demand and inventory-driven industries.

With ToolsGroup you will always Be Ready for Anything.