Demand forecast planner

Abstract

Hy Cite Corporation, a small company by many standards, has over 1,900 currently active and sellable products. Those active products account for 1.19 million physical items totaling $37.9 million dollars in total inventory. Roughly $40 million dollars in working capital is a lot of money to have tied up, and upper management has been putting a lot of pressure on the purchasing department to reduce inventory costs. The threat of running out of inventory to fulfill orders is the greatest risk of trying to reduce inventory. More accurate reporting of sales and inventory is needed to reduce this risk. A tool is needed to judge the demand for these products and forecast future inventory purchases. This document describes the software lifecycle used to create such a tool, Demand Forecast Planner, which assists the purchasing department in planning inventory needs.