Prophet Forecasting makes industrial strength forecasting accessible to companies that don’t have a dedicated forecasting team or an army of statisticians.
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Auckland, New Zealand (PRWEB) February 21, 2014
Retailers looking for an easy way to forecast demand for their products and plan inventory requirements will benefit from Prophet Forecasting.
The web application is designed to be used by stakeholders, rather than by professional statisticians, with a clear focus on simplicity.
Users can upload product sales history and use this to predict quarterly or monthly demand for the next 12 months. Demand forecasts can be adjusted manually and then combined with information about stock-on-hand, supplier lead times and desired service levels to generate regular stock plan reports, which contain recommendations for stock that should be purchased (to avoid stock outs) or promoted (if inventory levels are running too high).
“Prophet Forecasting makes industrial strength forecasting accessible to companies that don’t have a dedicated forecasting team or an army of statisticians,” says company Founder, James Crosswell.
Key Product Features:
- Create hierarchical forecasts
- Manually adjust forecasts (automatically reconciled across the hierarchy)
- ABC classification to specify service levels (the probability that a product won’t stock out)
- Plan stock purchases to avoid stocking out of key products
- Identify products that are over stocked to plan potential promotions
- Built to scale - forecasts are run in the cloud on Amazon's EC2 cloud computing platform
Pricing: Monthly plans start at $14, depending on the number of product SKUs that you manage.
Mental Desk is an online start up with offices in Auckland, New Zealand and Vienna, Austria.