- You can analyze the forecast for a specific product and variant in terms of either stock levels or revenue over a specified timeframe. The ForecxtIQ model will offer an optional prediction as well as predictions with higher and lower thresholds.
- The ForecxtIQ model offers guidance on the minimum and maximum stock levels to maintain for selected products in order to optimize revenue.
- The ForecxtIQ model offers insights into the optimal stock levels for placing purchase orders and suggests potential replenishment dates. This functionality helps businesses avoid revenue loss resulting from stockouts.
- You can obtain insights into the ideal stock levels or revenue predictions, as well as understand the potential thresholds for higher or lower stock or revenue forecasts.
- Backtracing illustrates the accuracy of your forecast by comparing the projected stock demand or revenue from the ForecxtIQ model against actual sales or stock demand data from the past. (see the screenshot above)
- You have the ability to manually adjust future stock demand or sales by modifying the percentage increase applied to the forecasted value. This enables you to update factors affecting sales that the model may not be able to discern automatically.
