Demand management and forecasting
IMAFS offers tools to conduct automatic data cleansing of demand history.
IMAFS offers the ability to manage demand by flow (for example: regular demand, projects, planned maintenance or unplanned maintenance, etc.).
IMAFS has tools to automatically determine the product demand seasonality and intermittency.
IMAFS automatically select the best forecasting method for each item (amongst dozens of alternatives) on a monthly basis (best fit). The IMAFS forecasting module integrates artificial intelligence (AI) to improve forecasting accuracy by 20%. Also, the IMAFS forecasting module has been tested to provide accurate results for items with intermittent demand.
AI allows for the analysis of a multitude of parameters in order to make more accurate predictions. It is also faster than both the human brain and traditional inventory management methods.
The forecasts are done based on total demand at any points in the distribution network.
IMAFS can incorporate manual forecasts into the calculations of Min Max.