Purchase plan

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Mycroft Assistant allows you to generate a purchase plan. A variance analysis is performed here, as it was in your sales plan. Similarly, the solution allows for variance analysis in the execution of the plan. Deviation from planned to real is performed, just as it was with sales.

The purchase plan is a very important tool.

The head of the company needs to know when financial demands will arise. This includes not only when the company has to pay for products, but how much it must pay. All key personnel benefit when they know what purchases will be happening, and when.

Generally, the purchase plan is generated for on a monthly basis and shows data that goes will into the future. This document is built on the basis of your company’s purchase forecast for a selected period, and takes future changes in demand into account, including seasonality, trends and other factors that may affect purchasing.

 

Purchase plan

The Mycroft Assistant purchase plan determines what products should be purchased in the future, and provides quantity recommendations. To generate the document, recommendations on the methods and tools used in the Mycroft Assistant are calculated on a daily basis, and at the end of the year, according to existing settings. The execution of the previous month’s purchase plan is included in the analysis for the subsequent month.

In fact, the solution conducts a simulation based on the approach that takes answers to the following questions into account: “If the calculation of the recommendations is launched in 20 days, what will happen after 21 days?” Recommendations are calculated for each day. If product needs to be ordered, the solution remembers this, and simulates further orders based on previous orders and their arrival date. Now, your purchase plan is properly set so that the current amount of product is always purchased.

 

Know more:

— Demand forecasting – information about it you can find HERE

— Sales analysis – information about it you can find HERE ;

— Planning – information about it you can find HERE and HERE ;

If you want to get started with the Mycroft Assistant – where we have implemented everything necessary for you to work effectively, simply sign up HERE and follow the provided instructions.