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  • Configure forecasting & optimization

Configuring forecasting & optimization


  1. Click on Configuration tab in the main menu
  2. Click on Inventory sub-tab in the dropdown
  3. Navigate to the Forecasting and Optimization section
  4. Select the relevant computation option from the dropdown next to Computation options. The options available are: None, Demand Forecast & Optimal order quantity

  5. . If Demand Forecast is selected, input the details in the subsequent fields as follows:

    • Minimum transaction period are selected by default from the consumption rate minimum transaction period
    • Maximum transaction period are selected by default from the consumption rate maximum transaction period
    • Type the the average order periodicity under the field Order periodicity (average)
    • Type the number of order periods to look back to forecast the demand

  6. Select the option to Show demand forecast if the demand forecast should be displayed

  7. If Optimal order quantity is selected, choose the Inventory Model from the dropdown 

  8. If Optimal order quantity is selected, input the details in the subsequent fields as:

    • Minimum transaction period are selected by default from the consumption rate minimum transaction period
    • Maximum transaction period are selected by default from the consumption rate maximum transaction period
    • Type the the average order periodicity under the field Order periodicity (average)
    • Enter the number of order periods to look back to forecast the demand
    • Type the the average delivery lead time under the field Delivery lead time (average)

  9. Select the option to display Show optimal order quantity 

  10.  Click on Save button
  11. A message confirming that Inventory configuration has been updated successfully