Is Historical Usage the Right History?
A key pillar of inventory management is creating a statistical forecast based on your company’s historical usage. In the pandemic and post-pandemic era, this can be a challenge.
The problem: When we look ahead to a post-pandemic time, the historical usage recorded in the months of the pandemic will generate a forecast that does not necessarily match “normal demand.”
Another problem: Individually adjusting usage on each product is not efficient in pandemic/post-pandemic conditions where most products will have been affected and will need attention.
Absolute Value’s Demand Planning solution has rich functionality for its users, which includes the ability to alert users to potential issues, review critical data, and make automated adjustments. We have implemented several processes using these tools to provide our clients with information, and help them anticipate and resolve pandemic-related issues.
