Create a Sales Forecast using Sales History
You can create a sales forecast using sales history. When the process is run, JustFood uses the Sale entries in the item ledger for the defined date range and location. If adjustments are being included in the calculation, Positive Adjmt. and Negative Adjmt. entries will also be used.
Note
Values entered on the Item Card page, on the Planning FastTab, will impact the forecast entries.
To create a sales forecast using sales history
Choose
, enter demand forecasts, and then choose the related link.The Demand Forecasts page opens.
On the action bar, choose New.
Enter the Name and Description of the sales forecast.
On the action bar, choose Process > Edit Production Forecast.
The Demand Forecast Overview page opens.
On the General FastTab, perform the following steps:
In the Location Filter field, select the location to which this forecast will apply.
This field is required.
(Optional) In the Customer Filter field, select the customer to which this forecast will apply.
In the View by field, 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.
It is recommended that you 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, the forecast quantity is valid on the first day of the time interval that you select. For example, if you select a month, the forecast quantity is for the first day of the month. If you select a quarter, the forecast quantity is for the first day of the first month in the quarter.
In the View as field, select how the forecast quantities are to be displayed for the time interval. If you select Net Change, the net change in balance is displayed for the time interval. If you select Balance at Date, the page displays the balance as of the last day in the time interval.
In the Forecast Type field, select Sales Item.
In the Date Filter field, if you want to limit the amount of data that is displayed, enter a date.
In the Entry Type Filter field, if you only want to see entries based on the calculated sales history, select Sales History. Otherwise, leave the value as All.
On the action bar, choose Actions > Functions > Import History.
The Create Production Forecast page opens.
Perform the following steps:
In the Item Analysis Date Filter field, enter the date range of the records that you want JustFood to look at, for example, 01/01/18..12/31/18.
In the Item Analysis Period Type field, enter the time interval that will be analyzed.
The value is automatically populated with the value 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, there would be 31 periods.
If the date filter is 01/01/18..01/31/18 and the Item Analysis Period Type is Week, there would be 5 periods because 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, 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, there would be 1 period for 2018.
In the Item UOM To Use field, select the item unit of measure to use.
The allowable values are Base or Sale.
In the Forecast Type field, ensure that Sales Item is selected.
The value is automatically populated from the Demand Forecast Overview page.
When the Forecast Type field is equal to Sales Item, JustFood looks at the Sale entries in the item ledger for the defined date range and location.
If you want JustFood to include Positive Adjmt. and Negative Adjmt. ledger entries in the forecast calculation, turn on Include Adjustments.
In the Forecast Calc. Source field, to specify how you want the forecast entries to be calculation, select one of the following values:
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.
If you want to spread the forecast over the selected periods that are defined on the Demand Forecast Overview page, turn on Spread Qty. Over Forecast Period(s).
For example, if your entry has a forecast of 200, if you turn on Spread Qty. Over Forecast Period(s), 200 will be divided over the forecast periods. If Spread Qty. Over Forecast Period(s) is turned off, each forecast period will display 200.
In the Action Type field, to specify the action that is to occur when the forecast is calculated, select one of the following values:
Append to Existing Forecast: If you are adding months onto an existing forecast, select Append to Existing Forecast.
Note: It is recommended that the new data that is being calculated not be a duplicate of the date/time that you already forecast, otherwise, you will double your forecast.
Delete Existing Forecast: If you are recreating an entire forecast, or creating a forecast from scratch, select Delete Existing Forecast.
Choose OK.
The production forecast is calculated, and the Demand Forecast Overview page is populated.
Note
Values entered on the Item Card page, on the Planning FastTab, 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 in the Forecast Multiplier field, a 2 is entered, and the total entry is 4, 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 in the Forecast Rounding Precision field and the total entry is 1, the calculated entry will be 3. If a 3 is entered in the Forecast Rounding Precision field and the total entry is 4, then the calculated entry will be 6.