CP SQL 8.3.9 – Purchasing Advice – Forecast-driven replenishment.
With CP SQL 8.3.9, you can now create seasonal forecasts for your items. You to use proven forecasting methods more accurately to estimate future demand based on historical sales, . Once you have created a forecast, CounterPoint can use the forecast data to calculate and set the ideal minimum and maximum quantities for your items.
Some key New features are:
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You can generate a purchasing advice based on the updated minimum and maximum values to ensure that you have the forecast quantities on hand for each period or season.
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You can easily evaluate your inventory needs, by dynamically adjusting minimum and maximum quantities to automatically replenishing your stock to constantly changing item demands.
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It relies on the aggregated historical data that is generated by the scheduled CounterPoint Data Mart Update task. If you are not already aggregating data for the Dashboard, you must schedule this task to aggregate forecast data.
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You can use the new Forecast window to define a forecast for a specific time period.
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With a defined forecast, you can calculate the Forecast qty for each item during each season you specified. If desired, you can increase or decrease each Forecast qty by a percentage or a specific amount to account for upcoming promotions or other factors affecting demand. You can also view a graph of the forecast for each item.
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You can use the new Purchasing Advice with Dynamic Min/Max window to calculate minimum and maximum quantities and generate purchase requests from a particular forecast. CounterPoint calculates new minimum and maximum quantities for the items in the selected forecast, based on the Safety stock, Reorder point, and EOQ (i.e., economic order quantity) for each item. When these calculations are complete, you can select the items you want to update, save their new minimum and maximum quantities, and then generate the Purchasing Advice report and the corresponding purchase requests for those items).
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The Safety stock, Reorder point, and EOQ values for each item are determined by the Annual Holding Cost and Annual Ordering Cost you specify along with the Lead time defined for item’s primary vendor window. If these values are not specified, they are calculated automatically.
If you would like help getting your Purchasing Advice Details setup correctly – contact us at CCS Retail Support.