Create a Sales Forecast using Sales History
You can create a sales forecast using sales history. When the process is run, JustFood will use the Sale entries in the item ledger for the defined date range and location. If adjustments are being included in the calculation, then Positive Adjmt. and Negative Adjmt. entries will also be used.
Note
Values entered in the Forecast fields on the Planning FastTab of the Item Card page will impact the calculated forecast entries.
To create a sales forecast using sales history
Choose the Search icon, enter production forecast, and select Production Forecasts.
In the Home tab, choose New. The Production Forecast Names page opens.
Enter the name and description of the sales forecast.
On the Home tab, choose Edit Production Forecast. The Production Forecast page opens.
Populate the General FastTab.
Location Filter: Select the location to which this forecast will apply. This field must be entered.
Customer Filter: (Optional) Select the customer to which this forecast will apply.
View by: Select the time interval that will be displayed in each column. You can select from the following intervals: Day, Week, Month, Quarter, Year, or the Accounting Period, as set up in Financial Management.
You should consider which time interval that you want to use for future forecasts so that the time interval is consistent throughout. When you enter a forecast quantity, it is valid on the first day of the time interval that you select. For example, if you select a month, then the forecast quantity is for the first day of the month. If you select a quarter, then the forecast quantity is for the first day of the first month in the quarter.
View as: Select how the forecast quantities are shown for the time interval. If you select Net Change, then the net change in balance is displayed for the time interval. If you select Balance at Date, then the page displays the balance as of the last day in the time interval.
Forecast Type: Select Sales Item.
Date Filter: Enter a date if you want to limit the amount of data displayed.
Entry Type Filter: Select Sales History if you only want to see entries based on the calculated sales history. Otherwise, leave the value as All.
On the Actions tab, choose Import History. The Create Production Forecast page opens.
Populate the Create Production Forecast page.
Item Analysis Date Filter: Enter the date range of the records you want JustFood to look at. For example, 01/01/18..12/31/18.
Item Analysis Period Type: Enter the time interval that will be analyzed. The value defaults in from the View by field. The number of periods is used when calculating an Average forecast.
If the date filter is 01/01/18..01/31/18 and the Item Analysis Period Type is Day, then there would be 31 periods.
If the date filter is 01/01/18..01/31/18 and the Item Analysis Period Type is Week, then there would be 5 periods (since the weeks in January cover 5 weeks).
If the date filter is 01/01/18..01/31/18 and the Item Analysis Period Type is Month, then there would be 1 period for the month of January.
If the date filter is 01/01/18..01/31/18 and the Item Analysis Period Type is Year, then there would be 1 period for 2018.
Item UOM: Select the item unit of measure to use, either the base UOM or the sales UOM.
Forecast Type: Ensure the value is Sales Item. The value defaults in from the Production Forecast page. The Sales Item value means that JustFood will look at the Sale entries in the item ledger for the defined date range and location.
Include Adjustments: Select the check box if you want JustFood to include Positive Adjmt. and Negative Adjmt. ledger entries in the forecast calculation.
Forecast Calc. Source: Select how you want the forecast entries to be calculated.
Average: The total for the selected date range divided by the number of periods (as determined from the values in the Item Analysis Date Filter field and Item Analysis Period Type field).
Low: The lowest entry in the selected date range.
High: The highest entry in the selected date range.
Total: The total entries for the selected date range.
Spread Qty. Over Forecast Period(s): Select the check box if you want to spread the forecast over the selected periods defined on the Production Forecast page.
For example, if your entry has a forecast of 200, if you select this check box, 200 will be divided over the forecast periods. If you do not select this check box, each forecast period will show 200.
Action Type: Select what action should occur when the forecast is calculated.
Append to Existing Forecast: Select if you are adding months onto an existing forecast. Note: The new data that is being calculated should not be a duplicate of the date/time you already forecast otherwise you will double-up your forecast.
Delete Existing Forecast: Select if you are recreating an entire forecast, or creating a new forecast from scratch.
Click OK on the Create Production Forecast page. The production forecast is calculated, and the Production Forecast page is populated.
Note
Values entered in the Forecast fields on the Planning FastTab of the Item Card page will impact the forecast entries.
The value in the Forecast Multiplier field will be multiplied by the average, low, high or total value (for example, if a 2 is entered in the Forecast Multiplier field, and the total entry is 4, then the calculated entry will be 8).
The value in the Forecast Rounding Precision field is used to round up the average, low, high or total value (for example, if a 3 is entered for Forecast Rounding Precision field and the total entry is 1, then the calculated entry will be 3. If a 3 is entered for Forecast Rounding Precision field and the total entry is 4, then the calculated entry will be 6).