sales forecasting and material planning with bista's cloud erp

SALES FORECASTING AND MATERIAL PLANNING IN CLOUD ERP

Bista Solutions Inc USA 1

Bista Solutions Inc USA2

POINTERS1) What is sales forecasting ?

2) Importance of sales forecasting?

3) Step by Step process of Sales Forecasting

4) Material Planning in ERPinCloud


WHAT IS SALES FORECASTING ?

Sales forecasting is the prediction of the future sales of a particular product over a specific period of time based on past performance of the product, inflation rates, unemployment, consumer spending patterns, market trends, and interest rates.


In the preparation of a comprehensive marketing plan, sales forecasts help the marketer develop a marketing budget, allocate marketing resources, and monitor the competition and the product environment.

Sales forecasting uses past sales figures to predict the short-term or long-term future performance to enable sound financial planning.


IMPORTANCE OF SALES FORECASTING

Financial planning of a business.

Self-assessment tool.

Uses past and current sales statistics.

Accurate sales forecast.

You can plan for the future

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SALES FORECASTING IN OPEN ERP

Bista Solutions Inc USA

Navigate as follows Sales>> Sales Forecasts>>Create Sales Forecasts

See below


a) Create a period for which the forecast is to be made.

b) The warehouse for which the forecast is to be made.

c) The location for which the forecast is to be made.

d) The product category for which the forecast is to be made.


Now after the sales forecast is created by clicking on the create button.

Navigate as follows :

Sales >> Sales Forecasts >> Sales Forecasts


Now, open each record one by one and manually enter the “forecast quantity” for each product according to the requirements for forecasting and click on save.


Navigate to

Warehouse >> MRP Analysis >> Run MRP Analysis


Now, create a new Run MRP Analysis and :

Give a name for Analysis reference

In the Analysis type, choose “Analysis from Sales Forecasts” for the sales forecast feature to work and click on save.


Now give the period that was created by the user and click “Get Sales forecasts” button.

By doing this all the sales forecasts items appear in the tree view.

After getting the list of items, click “Analysis” button.


Now, click “Get Analysis Results”.

Adding filters for the output is optional.


A new form appears which shows the analysis results.

Analysed items can be seen in the first tab.


In, the next tab i.e.“Sub-assemblies Raw materials Analysis", we can see

items that are to be procured.

Select according to the requirements and click “Procure All” button.


A wizard opens which shows us the clubbed line items that contains both, items

to be purchased and items to be manufactured or either of them.

Click “Procure” to proceed.


Now,see the third tab, i.e. “Procured Sub-assemblies Raw materials”

It contains the Purchased and Produced items.


Now Navigate to

Purchase >> Request for Quotations

A RFQ gets generated for the items to be purchased.


Open the record and see the record, source document contains the forecast that was created.


Navigate to

Manufacturing >> Manufacturing >>Manufacturing Orders

Two manufacturing orders are created from items to be produced.


Open any on record and see,


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THANK YOU

Bista Solutions Inc USA 39