Why we need forecasting in ERP?
How we should implement it?
If you are running your business without forecasting, it’s considered as pure sin!!
“Therefore, this is what the soverign Lord says: Because you have spoken false words and forecast delusion, look, I’m am against you, declares the sovereign Lord” Ezek 13:8.
Your business really needs to forecast sales correctly, invetnory correctly, cashflow correctly.
Tradtional method of forecasting is simply providing multiple formulas and compare history pattern and see which might fit the most. That is considered the most advanced method back in 10 years ago before artifical intelligence is getting introduced. We’ve traditionally used 100 different types of formula and try to guess which formula might fit the best from historical data.
But time is getting changed. Aritifical Intelligent is implmented and machine learning is doing all those things for you. They try to run “deep learning” to understand how this formula might fit by using “Fit Model”. That is how machine learning is introduced in Digital Age of ERP.
Aritifical Intelligence is not meant to replace human, rather it replace human’s uncessary repetitive works by using machine learning. It will help human to make intutve decision by saving repetitive works and rather focus on market trends and company objectives.
We recommend you are utilize your modern ERP (such as Microsoft Dynamics Businesss Central or Acumatica) by utilizing AI driven forecasting modules.