Forecast NOW Demand Forecasting and Inventory Management Program

Forecast NOW! is a demand forecasting and inventory management program. The program is intended for trading companies that have a lot of money frozen in inventory, or, conversely, there is a shortage.

The software product is easily integrated with any accounting system (1C, SAP, Oracle, Microsoft Dynamics), without affecting the current business processes and staffing of the company during implementation.

2018: Product Description

For more than 10 years of research, the company's specialists Ingenius Tim"" tested on real data all existing ones, algorithms from neural networks genetic algorithms to probabilistic models. It was the latter that formed the basis of the Forecast NOW! system, as they showed the greatest efficiency in real business conditions, TAdviser the company said on October 10, 2018. In the algorithms used, the developers added accounting for promotions, seasonality and enriched them with a financial and risk model, which allows you to take into account exceptional situations (single one-time peak sales, risks from short deliveries, risks from a shift in supplies, risks from writing off expired goods) even if their probability is extremely small.

As of October 2018, Forecast NOW! consists of two modules: a mathematical model that cannot be changed, and an interface part that can be customized for the user.

The product allows you to calculate the optimal level of service and the volume of the article for each item to ensure it. Thanks to the application of Forecast NOW! the company will be able to reduce inventory in stock by at least 10% without reducing sales or increasing the profitability of stocks - depending on the goals, according to Inzhenius Tim.

Product implementation typically takes one to six months, including a pilot project.

Typical results from the implementation of Forecast NOW!:

• Reduction of average inventory by 15-30% without loss of sales;
• Reduction of excess reserves by 20-40%;
• Increase in the percentage of satisfied demand by 5-15%;
• Increase of turnover by 15-25%;
• Increase in inventory profitability by 10-20%;
• Reduce order formation time from hours to 20-30 minutes.

2017: Product Description

The product "Forecast NOW Inventory Optimization Program!" is intended for retail, wholesale and distribution trading enterprises. The product allows you to optimize inventory and determine the size of the optimal stock and order volume for each product, taking into account the target level of service, seasonality, marketing actions, transport restrictions, supplier requirements and other factors.

Features and capabilities of the program (as of June 2017):

• Settlement of a vendor order to a branch or distribution center
• calculating the size of optimal internal transfers between branches, taking into account the timing and cost of delivery;
• Distribution of distribution center stock between outlets or stores in an optimal manner
• Calculation and analysis of inventory management KPIs.

Data exchange between "Forecast NOW! Inventory Optimization Program" and "1C:Enterprise 8" takes place through a text file in.csv format.

The Forecast NOW! Inventory Optimization Program is compatible with the Trade Management configuration, rev. 11 on 1C:Enterprise 8.3 platform.

The configuration is secure and contains code fragments that cannot be changed by the user, and is protected against unauthorized use. External processing for the integration of the Forecast NOW! Inventory Optimization Program and 1C:Enterprise 8 is open source and can be modified by users at their discretion.

According to the developers, using the Inzhanus Tim software product, customers plan deliveries more efficiently, reduce excess stocks and increase profitability.