Forecasting Chart

Forecasting Chart

What are you going to learn?

  • How to use the forecasting chart and graph
  • How to make adjustments to your forecast
  • How to change display of the forecast graph and chart

The forecasting chart is made up of 10 different categories of data (Adjusted, Calculated Forecast, Prior Yr.1-5, a Historical Forecast, and 2 variance columns) on the left-hand side and the next 12 months in the upcoming year on the top.

Any time you update/change any of the filters or categories on the left and then apply your changes using the "Apply" tool, the chart will update with the new information based on the filters used.

This is an overview of the forecasting chart and its functions:

1) Date Range - Select a start and end date of the forecast displayed.

2) Freeze Forecast/ABC - Stop the ability to forecast or calculate ABC Codes (helpful if you believe a forecast to be extremely accurate)

3) Choose Method - Select a different forecasting method and see other possible forecasts.

4) Bar Colors - Each color represents a bar in the graph.

5) Number of Sales (in units) - The amount of sales to be compared across each bar in the graph.

6) Months/Years - The current and upcoming months.

7) Quick Filter - Click on an item to quickly see it's individual forecast/history.


Each function of the forecasting chart helps to create the most accurate forecast for your company. The individual features and their descriptions can be found below.

Learn how to change the figures in the chart from the default of "units"

Learn how to change which rows appear

Forecasting Graph

The forecasting bar graph is a visual representation of the data found in the forecasting chart. Anytime anything is changed on the chart, the graph is automatically updated to fit the data within the chart.

1) Adjusted Row - Where your team can make adjustments to our calculated forecast.

2) Calculated Forecast - The forecast we have calculated using over 209 algorithms.

3) Prior Years of Sales History - Your imported sales history for up to 5 years in the past.

4) Historical Forecast - Shows the calculated forecast of the previous year for each month

5) Current Month - The month we are currently in.

6) Upcoming Months - The upcoming months in the near future.

7) Totals - The total sum of each row.

Learn how to change the colors and display of the Forecasting Graph

Calculated Forecast

The "Calculated Forecast" tab represents the forecast that Avercast has calculated based on your company's previous data. Using your past 5 years of sales data we are able to predict your sales for both the current month and the months to come.

Adjusted

The "Adjusted" tab represents the adjustments that you or your team can make to the forecast that we have calculated. You can make an adjustment to any of the numbers in the adjusted row by double-clicking the number.

Once clicked on, a box will appear:

1) Action - Select what metric you are adjusting.

2) Value - Change the current value to your desired value.

3) Note - Make a note of your changes (optional).


After applying your changes, the chart will update to the new number.

A red arrow will appear in the upper right-hand corner of the box

on the chart representing an adjustment has been made.

When hovered over, the box will display the original number underneath.

The note that you made will then automatically appear at the bottom of the page under the "Notes" tab.

Not only can you replace the quantity directly, but the adjusted tab also lets you make changes to the original number in 3 other ways: +/- Qty by Value, +/- Qty by %, and % Probability.


These are the explanations of each feature:



You are able to adjust the previous sales history of any individual SKU at certain locations by selecting that SKU in the "Items" box to the right of the forecasting graph.

1) History - Previous 5 years of imported sales history

2) Single SKU filter - Use this box to select SKUs and their locations at an individual level.

You can clear all the adjustments you've made at any time by clicking the arrow to the right of the adjusted box and selecting "Clear Adjustments."

1) Previous Year to Adjusted - Takes the sales history from Prior Yr. 1 and copies it into the adjusted row to compare to the current calculated forecast.

2) Clear Adjustments - Erases all adjustments in the adjusted row.

Months and Years

The months and years bar located at the top of the chart provides a column for the current month, as well as a set of upcoming months determined by you.

I.e. If the current month is February and the current year is 2019, the chart would look like this:


You can change the start and end dates of the data by adjusting the "Start Date" and "End Date" tabs at the top of the screen.

Clicking either box will give you a list of start and end dates to choose from. This allows you to adjust your data and forecast to your specific needs. Once selecting a new date, both the chart and graph will update automatically.


Learn how to adjust the fiscal settings

Prior Years

The prior year's rows can be found directly underneath the calculated forecast row.


These rows represent your company's previous 5 years of data starting with last year.


I.e. If the current year is 2019,

Prior Yr. 1 would display your data from 2018,

Prior Yr. 2 would display your data from 2017,

Prior Yr. 3 would display your data from 2016,

Prior Yr. 4 would display your data from 2015,

and Prior Yr. 5 would display your data from 2014.

Historical Forecast

The Historical Forecast represents the forecast of the current month from last year. For example, if the current month and year are July 2019, the historical forecast will show the forecast of July 2018.

Variance

The two variance columns show the difference between last years forecast and last years sales history. This way, based on last years forecast, you can see how much your current forecast may vary.


Totals

Under the "Totals" column, you are able to see all of the totals in each row added together.

Using categories and filters, you will be able to see various sets of customized totals.

 

 

 

Other Features

There is a list of other useful features found directly above the forecasting chart and directly below the forecasting graph. These features include Unit of Measure, Lead Time, MTD (Month To Date) Sales, and MTD %. They appear as follows:

1) Lead Time - The average lead time between selected SKUs

2) MTD Sales - The amount sold so far in the current month

3) MTD % - The percentage of the forecast that has been sold for the current month (I.E. if the forecast was 100 units for January and on the 15th you have already sold 150 units, the MTD % would be 150%)

4) Unit Of Measure - The current selected unit of measure.

Learn how to change the Unit of Measure

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