1. Purpose
The Inventory forecast report's purpose is to help users calculate how much stock they need to purchase to ensure inventory lasts for a specified number of days based on average daily sales.
2. Filters
Important filter:
Date Range: Get the delivery order’s shipment date range, default = last 90 days
Location: Default = All locations, user can select a specific location
Products: Default = All products, can select a specific product
Brand & Categories: Default = All, can select multiple to filter out the products in the report
Forecast days: How many day user want the instock qty will last
3. Algorithm explanation:
For example:
Date range = Sep 1st to Sep 30th
Forecast days (N days) = 60 days
In this date range, item A sold 120 qty
Available qty (inc PO) = 40 qty
Then
Purchase quantity to last 60 days = ((120 qty / 30 days) * 60 days) - 40 qty = 200qty
4. Propose purchase
Based on the system's suggested purchase qty, user can add "Proposed Purchase Quantity" next to it.
Check box which product you want to purchase
Click on the green button: Propose Purchase to create purchase orders from the product's default supplier.
Note:
If you find it not suitable for your current workflow or need more complex/advanced algorithms. Feel free to reach our support.