| Developers: | Novo BI (Novo Biay) |
| Last Release Date: | 2020/10/22 |
| Technology: | BI, SCM |
Content |
The main articles are:
- SCM (Supply Chain Management) - Supply Chain Management (Inventory Management)
- Business Intelligence Definition
Novo Forecast Enterprise is the development of Novo BI, a digital system for forecasting demand and integrated planning in supply chains.
2024: Recognition as an analogue of SAP IBP
The Ministry of Digital Development recognized Novo Forecast Enterprise as an analogue of the SAP IBP solution. The developer announced this on August 22, 2024.
The Ministry of Digital Development Expert Panel compared two products across more than 70 criteria, including interface, functional structure, planning time levels. Experts concluded that Novo Forecast Enterprise is an analogue of the SAP Integrated Business Planning solution.
Also, the Novo BI team is actively developing and developing new system modules with unique functions that foreign software does not have.
The need to import substitution of SAP products popular in Russia is due to the complete termination of the activities of this company in the country from March 2024.
It is important to note that Russian business, purchasing domestic software, can take advantage of subsidies within the framework of the federal project "Digital Technologies" and save significantly.
2022: Novo Forecast Enterprise Functionality
The digital system Novo Forecast Enterprise (NFE) helps to predict the demand for products, automatically taking into account up to 33 types of various complex factors (promotions for goods, one-time large orders, tenders, general price changes, etc.). The product is included in the list import substitution IT of solutions in. Register of the Ministry of Digital Development
The extreme failure of supply chains caused by EU and US sanctions policy is becoming a new challenge for the Novo Forecast Enterprise (NFE) system. The number of factors adjusting the forecast has increased - for 2022 more than 100 factors.
2021: Development of ETL module and production order distribution module by day
In 2021, the functionality of the Novo Forecast Enterprise program continued to develop:
- A functional module for distributing production orders by day has been developed;
- The forecast of the effects of the promo has been finalized - the system considers the forecast of the effects of the action, even if there is no data previous sales. Algorithms ML look for similar experiences from other SKUs and provide guidance on prognosis;
- An ETL module has been developed that allows you to perform complex transformations, create a scalable data model, effectively identify errors, duplicates, data breaks, extra characters, etc., in the loaded data array for calculating the forecast. Working with data has become easier and faster.
- An algorithm for assessing the effectiveness of sales planning, marketing campaigns was developed, a recommendation sales system was developed based on this algorithm, testing was carried out on a real case.
- Novo Forecast Enterprise allows you to transfer plans from natural units to monetary ones.
2020
Novo Forecast Enterprise 3.85 in updated design
On October 22, 2020, it became known that the developers of the digital system for forecasting demand and organizing integrated planning in supply chains Novo Forecast Enterprise presented an updated version of the product.
Novo Forecast Enterprise is the flagship solution of technology vendor Novo BI, which helps companies achieve maximum forecast accuracy throughout the supply chain and provides suppliers, distributors and retailers with up-to-date agreed plans every day.
The Novo Forecast Enterprise client update started in early fall 2020. The release was prepared by the Novo BI team for four months. Version 3.85 offers users more than twenty additional features.
The platform design has been updated: a choice of template has appeared, interfaces and pages are optimized for work on mobile devices. The speed of their loading has increased.
The release presents several global changes. The approval scheme has been improved, and capabilities for department assignments and user binding have been added.
A grid for choosing products instead of a "tree" has appeared: now you can work in a table with filtering at all levels of the reference book.
The import of factors has been improved: the possibilities of importing locks, tenders and pre-orders through the interface have opened up.
The algorithm for distributing shares by day has been automated. The possibility of recommendations based on previous experience has been expanded.
The order interface is optimized. The function of copying orders has been added.
Multilingualism is included in version 3.85: now you can upload reports in both Russian and English.
The first version of Novo Forecast appeared in 2015. As of October 2020, 200 + large companies with billions of dollars in turnover are users of the system.
Description of Novo Forecast Enterprise
According to information for March 2020, Novo Forecast Enterprise is a digital system that helps to improve the quality of management decisions, avoid excess inventories, increase the level of client service and, among other things, solve the problem of a shortage of operating time. The system helps companies achieve accurate forecasts and provides all divisions with up-to-date, consistent plans on a daily basis.
NF Enterprise integrates with all popular business automation systems (1C, SAP, Dynamics AX and others) and is being implemented into the company's existing IT architecture, taking into account the peculiarities of its business processes, financial capabilities, development prospects and strategic plans.
The system provides interaction not only between different departments of the same organization, but also between participants in the entire supply chain in the market. Therefore, the company always owns current, agreed plans.
According to the developers, NF Enterprise allows you to make the sales plan flexible and keep optimal stocks for the delivery/delivery shoulder period (plus agreed insurance stock), avoid OOS (out of stock), minimize OS (overstock), and reduce illiquids. Allows you to speed up business processes by more clearly distinguishing between the responsibility of each employee for his area of work and the decisions made.
Among the features of the system:
- Actions are as automated as possible: data preparation, selection of prediction algorithms
- Mathematical algorithms operate in automatic mode
- Collaboration Web Server. Access from any device
- Ability to agree on factors, alerts
- Reconstitution of forecast and sales plan (target in money, forecast in pieces)
- The system is easy to learn for users, undemanding to resources
2019: Ability to address key forecasting challenges. Features
Novo Forecast Enterprise (NF Ent) is a Novo BI solution based on the Novo Forecast platform.
The software product as a whole is designed to perform the full cycle of the process of forecasting and analyzing results:
- Model selection and forecast calculation;
- Adjustment of forecast by factors;
- Accuracy assessment
As of March 2019, with the help of Novo Forecast Enterprise, companies can solve the following main forecasting tasks:
- Coordination of the planning process
- Managing Prediction Criteria
- Calculation of detailed mathematical forecast of sales
- Adjustment of forecast by factors and operational constraints
- Review forecast results and identify actions to improve forecast accuracy
- Calculating the demand for goods for a given period of time
- Valuation and determination of inventory surplus.
Features of Novo Forecast Enterprise:
- Automatic calculation of forecasts using machine learning methods - Machine Learning:
- Data Integrity Check
- Prepare data for forecast
- Definition of prediction groups
- Selection and testing of forecast models from 3000 + combinations
- Adjustment of forecast by factors
- Multi-User Collaboration Web Server:
- Clear interface
- Employees use common sources of data and information
- All activities are regulated and consistent with approved business processes
- The ability to work over the Internet, from a laptop, tablet, mobile phone
- Operations and Impact Management Modules:
- Ready-made modules for management of operations and factors: promotions, listings, commissioning of new products, blockages, price changes, special orders, tenders
- Ability to add new modules and adjust existing modules
- Management of reference books of assortment, customers, directions, sales areas
- Management control
- Differentiate roles and employee access according to authorizations within the business process
- Approval of key milestones and operations
- Event History Record
- Send event notifications e-mail to
- Detailed Analytics and Reporting
- Joint analysis of forecasts and plans
- Estimate forecast accuracy and impact of factors on forecast
- Uploading reports to Excel, Word, Power Point
- Automatic report preparation and distribution
Novo Forecast Enterprise makes the work of the entire company more efficient, including the departments of sales, logistics, production, finance.
Novo Forecast Enterprise consists of 4 main functional blocks:
- Prediction Server
- Web server for joint planning and management of factors that correct the forecast
- Analytics Server
- Database Server
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