JustEnough Demand Forecasting
JustEnough Demand Forecasting delivers sophisticated forecast modeling algorithms that generate a forecast that’s based on true demand history. And better yet, you do not have to decide which forecasting algorithm will be the most accurate – JustEnough's demand planning software does that for you.
Using sophisticated forecasting algorithms, JustEnough's demand planning solution generates a baseline forecast by automatically running a series of forecasting methods to determine which is the most accurate for each SKU. In the tournament of best fit, at least 14 world-class forecasting methods compete against each other to determine which method should be used for each SKU. Each model is back-casted and compared against actual demand. This best-in-class system is able to determine which forecasting algorithm will be the most accurate for each SKU, taking the guesswork out of the planning process.
JustEnough Demand Forecasting keeps up with trends and seasonality. Seasonality captures the year-over-year recurring pattern that’s typically visible in either weekly or monthly periods. Trends are calculated by removing recurrent and periodic variations. This way, you won’t misinterpret seasonal variations as growth or decay. Promotional uplift is also accounted for and the history normalized so that the future forecast does not account for a promotion which may not be run again. And lost sales due to stock-outs are accounted for helping to ensure the same sales are not lost again in the future.
The JustEnough demand planning solution does the heavy lifting and users can then manage by exception greatly increasing productivity. Users can also apply their unique knowledge of the business to the forecast using manual overrides. The result is accurate demand forecasts that are easy and fast to produce.