Forecast Pro TRAC

Utilizing Time Fences in Forecast Pro TRAC

2016-11-17T14:48:28+00:00November 17th, 2016|Categories: Forecasting Education, Using Forecast Pro|Tags: , , |

Sometimes making changes to near-term forecasts can be an expensive proposition. Last minute changes often significantly increase production and procurement costs, decrease profitability, and negatively impact other aspects of the business. To protect against these effects, many companies establish “time fences” to prohibit changes to the forecast over a defined short-term horizon. This edition of Tips & [...]

Working with Alternative Baseline Forecasts

2015-05-11T12:39:06+00:00May 11th, 2015|Categories: Forecasting Education, Using Forecast Pro|Tags: , , , |

In Forecast Pro TRAC, you have the ability to import externally-generated forecasts into the override grid view. We can choose which of these forecasts we want to use as our “baseline” forecast. This can be done either on an item-by-item basis or for groups of items. If we have specified a baseline forecast that is [...]

A Guide to Forecast Error Measurement Statistics and How to Use Them

2015-04-02T15:10:33+00:00April 2nd, 2015|Categories: Forecasting Education|Tags: , , , , |

Error measurement statistics play a critical role in tracking forecast accuracy, monitoring for exceptions, and benchmarking your forecasting process. Interpretation of these statistics can be tricky, particularly when working with low-volume data or when trying to assess accuracy across multiple items (e.g., SKUs, locations, customers, etc.). This installment of Forecasting 101 surveys common error measurement [...]

Exception Reporting in Forecast Pro TRAC (Part II)

2014-03-31T10:08:15+00:00March 31st, 2014|Categories: Forecasting Education, Using Forecast Pro|Tags: , , |

Forecast Pro TRAC provides a wide array of exception reports, including reports which monitor your archived forecasts (i.e., previously created and saved forecasts) and reports which monitor your current forecasts (i.e., the forecasts you are working with but haven’t yet finalized). Exception reports enable you to quickly find cases where key performance metrics have fallen [...]

Exception Reporting in Forecast Pro TRAC (Part I)

2014-03-14T14:39:24+00:00March 14th, 2014|Categories: Forecasting Education, Using Forecast Pro|Tags: , , , |

Forecast Pro TRAC provides a wide array of exception reports, including reports which monitor your archived forecasts (i.e., previously created and saved forecasts) and reports which monitor your current forecasts (i.e., the forecasts you are working on but haven’t yet finalized). Exception reports enable you to quickly find cases where your forecast error or some other [...]

Forecast Accuracy Measurement & Tracking in Forecast Pro TRAC

2014-03-10T08:27:54+00:00March 10th, 2014|Categories: Forecasting Education, Using Forecast Pro|Tags: , , |

Here’s a question that we get all the time: what forecast accuracy should we target? The answer varies widely across industries and organizations–there is no single “optimal” forecast accuracy (other than 100% accuracy, which is not practical)! The one universal answer is that forecast accuracy can be considered “good” when it is an improvement over the [...]

Event Models & Using the New Event Manager in Forecast Pro

2013-11-20T19:42:13+00:00November 20th, 2013|Categories: Forecasting Education|Tags: , , , |

Forecast Pro’s Expert Selection system can generate thousands of forecasts automatically; however, the automatic forecasting approach can fall short if the historical data do not represent a typical demand pattern for a given item because of certain events.  For example, an unexpected large order may inflate the forecast for the following year, or a stockout [...]

The New Forecast Pro Event Manager in Action

2013-10-25T16:00:18+00:00October 25th, 2013|Categories: Forecasting Education, Using Forecast Pro|Tags: , , , |

If you want to see the new Event Manager available in Forecast Pro TRAC v3.1 and Forecast Pro TRAC v8.1, then you will want to check out the recording of our recent Webinar about using events to improve your forecasting. The educational hour-long session explains how event models work, how and when they should be used, and [...]