Rephasing Forecasts Using Seasonal Factors

Overview

Seasonal factors are used in conjunction with the Standard Actual/Forecast Editor to create new forecasts reflecting seasonal sales trends.  This is particularly useful to project sales patterns for products with strong seasonality, e.g. antihistamine drugs (responding to the hayfever season).

Opening the Forecast Editor

1. From IFP Home select Forecasting > Standard Actual/Forecast Editor.
2. Select Custom File Selection.  Click Next.
3. Select the required data file, e.g. 2014 PLAN.
4. Select whether to amend the data in Units or Values.  Click Next.
5. Leave Report Definition unchecked. Click Next.
6. Select the Products required.  In this example, we are using two products (use the CTRL key to make a multiple selection). Click Next.
   
7. Select the level of detail required. Click Next.
8. Finish to open the Forecast Editor screen.

Applying Seasonal Factors

In this example we currently have flat data across all months of the year for Cleareze Tabs resulting in an annual total of 120,000 units.

1. Highlight the required selection, in this case for all 12 months
2. Select Data > Apply Seasonal Factors
3. The Seasonal Factors Editor appears
4. Select the required item, e.g. Cleareze Tabs
   
5. Press OK to view the projected impact of historical seasonal trends.
   

The simple calculation applied, e.g. for January = 10,000 (initial forecasted sales units) x 0.268 (Seasonal Factor) = 2,678 (updated forecasted units).