Planning For The Future? 'Forecast' Module Added To ERP Software
Enterprise Resource Planning (ERP) software producer, IQMS, has released a forecast module (IQForecast) for use with its IQWin32 ERP software program. The company says the software will allow users to make informed business decisions, increase control over inventory, eliminate out-of-stock problems, improve resource planning, improve customer service and simplify the budgeting process.
IQForecast builds a forecast based on actual order history, showing forecasted, shipped and on-order quantities, and corresponding dollars. Forecasted quantities can be manipulated manually for even more control. Viewing methods include the traditional spreadsheet or a graph. Forecasts can be refined to view by customer, part or by 'e-plant' (separate physical or logistical plants defined for IQWin32).
From there, users can analyze theprojections and make necessary adjustments by comparing actual to forecast numbers, by month or week, as far back as necessary. 'What-if' capabilities allow users to view the impact of projectedscenarios.
The program also lets users extendthe forecast over years for long-range planning. This helps in making adjustments to material requirements and capacity planning.
Processors will be able to see a number of different scenarios, including:
- Months typically reflecting upturns (and downturns) in production
- If monthly production is consistent with monthly income
- If monthly income is consistent with profitability
- Seasonal trends (high- and low-demand periods)
- Current budget and forecasted future budget
IQMS says that IQForecast has theability to view changes in actual shipping and sales in real-time, and claims that this is what sets it apart from other similar programs on the market. These changes are instantly compared against the forecast so they can be evaluated quickly.
And because this module is integrated with IQWin32, it can reportedly perform tasks that 'third-party' modules can not:
* Automatically consume the forecast. Conversion of forecasted orders to actual orders elimin-ates the need tore-enter order information. Actual ordersare updated as forecasted quantities change, while maintaining their identity as a forecasted order.
* Move the forecast orders into the schedule. Forecasted items can be scheduled and converted
to work orders.
*Populate the budget. Tight integration with the IQWin32 financial modules supports building a budgeted forecast by cost elements, which are linked to specific General Ledger (GL) accounts. These include sales, raw material, overhead and labor accounts.
* Update the forecast based on orders received via Electronic Data Interchange (EDI). IQWin32 handles orders received by EDI as back-order releases, if manually entered.
* Tie the forecast periods to established GL periods: The forecast generated is automatically tied to the established GL periods. Comparing a forecast to actuals that are based on different periods can lead to confusion.
* Link to shipping activity: A click of the button provides access to sales and shipping information, so projected sales and quantities can be compared monthly, by customer, by order and/or by part.
IQForecast will be included with the next release of IQWin32. Existing customers can upgrade for a 'minimal' price. IQMS says it will be offering special pre-NPE pricing. (See company at booth S-319)
Paso Robles, CA