More updates to the Netstock app: Introducing ‘Event Correction’
Updates in this article
The COVID-19 pandemic has resulted in incredibly difficult business conditions across the globe that will be felt for years to come. Even as some companies begin to trade normally again, the lingering impact of unusually low sales (or in some cases higher than usual sales) will continue to affect computer-generated forecasts. On top of that, suppliers may have been unable to offer their usual level of service for a period of time, with the resulting “poor” supply performance negatively impacting safety stocks.
For this reason, we’ve introduced a new feature called “Event Correction” to help businesses that experienced a widespread, consistent impact across their product range.
This feature allows you to:
- Specify which months of sales history were impacted and select a “normal” month to use instead for the purposes of forecasting
- Specify which months of purchase history were affected and elect to ignore orders receipted in those months when calculating lead times and safety stock
The feature can be enabled by an admin in the History tab of your configuration settings
Note how the forecast below has been stabilized by nominating alternative sales history to use:
Don’t forget you’ll need to regenerate your forecasts for the settings to take effect.
Making it easier to create orders
We heard your feedback. Working through a long list of suppliers to place your orders could be frustrating because the heading row and “Create order” button would scroll out of view. Both will now float at the top of the page as you scroll down, making it easier to interpret the data and create the orders you need.
Enhancements to the Stock Projection Module
Further refinements were made to the Stock Projection module this month.
We added “Lost Sales” to help you understand the impact of your current stock position and the ongoing effect of your target fill rate(s).
In addition, opening and closing stock figures were made more accurate by excluding the value of any theoretical negative stock.