Advanced forecasting in SAP S/4 HANA refers to the use of advanced analytical and predictive tools to forecast future demand for products and services.
The module uses data from various sources, including historical sales data, market trends, and customer behaviour, to predict future demand and provide insights into the factors that drive demand.
Some of the key features of Advanced Forecasting in SAP S/4 HANA
- Automated data collection: The module automatically collects and integrates data from various sources, including historical sales data, market trends, and customer behaviour, to provide a comprehensive view of demand patterns.
- Advanced analytics: Advanced analytical tools, such as machine learning algorithms, to identify patterns and trends in the data, providing businesses with insights into the factors that drive demand.
- Demand planning: Tools for creating demand plans based on the forecasted demand, enabling businesses to optimise their supply chain operations and improve their inventory management.
- What-if analysis: Enabling businesses to perform what-if analysis to simulate different scenarios and evaluate the impact of various factors on demand, enabling them to make more informed business decisions.
- Collaboration: The module facilitates collaboration between different departments and stakeholders, such as sales, marketing, and supply chain, enabling businesses to align their strategies and improve their forecasting accuracy.
What benefits does Advanced Forecasting in SAP S/4HANA provide to your organisation?
- Improved forecasting accuracy: The module uses advanced analytical and predictive tools to improve forecasting accuracy, enabling businesses to better predict demand and plan their inventory levels accordingly.
- Optimised inventory management: With improved forecasting accuracy, businesses can optimise their inventory levels, reducing the risk of stockouts or overstocking, and minimising inventory costs.
- Better supply chain planning: Advanced forecasting enables businesses to better plan their supply chain operations, including production planning, procurement, and logistics, improving efficiency, and reducing costs.
- Faster decision-making: With real-time insights into demand patterns and the ability to perform what-if analysis, businesses can make faster and more informed decisions, improving agility and competitiveness.
- Improved customer service: With more accurate forecasting, businesses can improve their customer service levels by ensuring that they have the right products in stock at the right time.
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