Creating a Demand Forecast in Business Central
Business Central empowers organizations to reliably predict demand and calibrate production capacity, which is vital for making the most of resources, pleasing customers, and reducing expenses. In this blog, we’ll go over key elements of creating precise forecasts in Business Central and how it can enhance operational planning.
- Setting Up Forecasts:
Business Central enables you to configure parameters like forecast horizons and forecasting methods. The forecast horizons dictate the duration you want projections for, letting you concentrate on short-term or long-term forecasting. The forecasting approach can be set to options like “Sales and Inventory Forecast,” “Item Forecast,” or “Customer Forecast.” These choices allow your organization to predict various demands across customer groups. Additionally, you can forecast by time period and location.
- Information Gathering and Evaluation:
BC integrates with multiple data sources, including your ERP system, sales records, and market information. By compiling extensive data on past sales, customer patterns, seasonal fluctuations, and industry trends, you can uncover valuable insights into demand changes. This provides the foundation for accurate demand modeling.
- Assessing Forecast Outputs:
After generating forecasts in Business Central, it’s vital to evaluate the results and assess their reliability. BC offers reports that let you visualize projected demand, contrast it with real sales, and spot any differences. These perspectives allow you to fine-tune plans, modify inventory, and make informed decisions about optimizing resources.
Next Steps
Logan Consulting is a proud Microsoft partner. We are committed to ensuring our clients have the knowledge they need to get the most out of Business Central. Contact us today to find out what the software can do for your company.
