| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Purchase (purchase)
• Sales (sale_management) • Invoicing (account) • Discuss (mail) |
| Lines of code | 921 |
| Technical Name |
forecasting_report |
| License | LGPL-3 |
| Website | https://www.silvertouch.com |
| Versions | 14.0 15.0 16.0 |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Purchase (purchase)
• Sales (sale_management) • Invoicing (account) • Discuss (mail) |
| Lines of code | 921 |
| Technical Name |
forecasting_report |
| License | LGPL-3 |
| Website | https://www.silvertouch.com |
| Versions | 14.0 15.0 16.0 |
Sale and Purchase forecasting report
Forecast Report on sale and purchase based on past data
OVERVIEW
The App offers forecasting features for Sales & Purchase modules in Odoo. These module uses Exponential Smoothening algorithm to analyse historical sales data and predict future sales and purchase trends.
FEATURES
Sales forecasting offers several benefits to businesses. Here are some key advantages:
- Improved Decision Making: Sales forecasting provides insights into future sales performance, enabling businesses to make informed decisions regarding production, inventory management, resource allocation, and marketing strategies. Accurate forecasts help optimize operations and align resources effectively.
- Financial Planning: Forecasting sales allows businesses to create more accurate financial plans, budgets, and projections. It helps in estimating revenue, setting sales targets, and managing cash flow. This enables businesses to make strategic financial decisions and allocate resources efficiently.
- Inventory Management: With sales forecasts, businesses can anticipate demand and plan their inventory levels accordingly. This prevents overstocking or stockouts, reducing carrying costs and the risk of lost sales. It also helps in optimizing supply chain operations and improving customer satisfaction.
- Business Expansion and Risk Management: Accurate sales forecasts aid in identifying growth opportunities and potential risks. They provide a foundation for strategic planning, expansion initiatives, and risk mitigation strategies. Businesses can evaluate the feasibility of new projects, assess market potential, and make informed decisions to minimize risks associated with market fluctuations or changing customer demands.
- Resource Allocation: Sales forecasting assists in optimizing resource allocation by predicting sales volumes and patterns. It helps businesses determine the appropriate staffing levels, production capacity, and distribution requirements. This ensures that resources are allocated efficiently to meet customer demand while minimizing costs.
- Goal Setting and Performance Evaluation: Sales forecasts serve as benchmarks for setting sales goals and targets. By comparing actual sales with forecasted figures, businesses can assess performance, identify areas of improvement, and take corrective actions. This facilitates performance evaluation, incentivizes sales teams, and drives overall sales growth.
- Market and Competitor Analysis: Sales forecasting involves analyzing market trends, customer behavior, and competitive factors that influence sales. By studying these factors, businesses gain valuable insights into market dynamics, customer preferences, and competitor strategies. This information helps in formulating effective sales and marketing plans to stay competitive.
Overall, sales forecasting enables businesses to make proactive, data-driven decisions, optimize operations, manage resources effectively, and drive sustainable growth. It plays a crucial role in enhancing profitability, competitiveness, and customer satisfaction.
Click on the "Group By" field and select the desired grouping criterion from the available options. For example, you can choose to group by Measure and Dimension Product, Salesperson, Sales Team, or any other relevant field
Supported: v14 15 16
SCREENSHOTS
Video Preview
These is how we can see Forecasting Report in our system.
Sales Module > Reporting > Forecasting Report.
The measure can also be changed to suit our needs. Additionally, we can use Filters and Group by according to the needs of our firm.
WHY DO WE NEED FORECAST IN OUR BUSINESS?
Forecasting is an essential tool in business for a variety of reasons. It involves predicting future trends, events, and outcomes based on historical data and current conditions. Here are some key reasons why businesses need forecasts:
- Planning and Budgeting
- Decision Making
- Identifying Opportunities and Risks
- Supply Chain Management
- Resource Allocation
- Performance Evaluation
- Financial Management
- Investor and Stakeholder Communication
Overall, forecasting is an indispensable tool that empowers businesses to make informed decisions, stay ahead of the competition, and navigate the uncertain and dynamic nature of the marketplace. It enhances overall efficiency, profitability, and sustainability of the business in the long run.
Other Silver Touch Apps
Timesheet Lock
Timesheet Calendar
Sale & Purchase Forecast
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Digital Tranformation
E Governance
Enterprise IT Services
Enterprise Software
Managed Security
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Presence
Achievements
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