Today’s video is an overview of how to use the Filtered Usage feature in Prophet 21’s Item History window. We will also cover how to update inventory at a location item level.
What is Filtered Usage?
The purpose of this screen is to use the Filtered Usage column to override whatever actually did or did not sell in a period.
Filtered Usage can be used for several different scenarios.
Example: You had a huge sale on an item and meant to not capture the usage on it.
But if you did accidentally capture the usage, you could drop your Filtered Usage down so the special activity does not widely throw off your calculations.
This process is a little bit more complicated than simply importing Item History, (which you can do as well). Since this process is a bit more complex, I do not recommend inexperienced users attempt to do the update.
How to use Filtered Usage:
- Open Item History and start by inputting both your Location ID and Item ID.
- Fill out at least twelve months of actual Filtered Usage.
- Note: If an item has no history, there will be no Forecast Usage to show. Basically, the item has no real history. For demand to calculate and start running correctly, you need at least twelve months of history (up to three is preferred).
- Check the Recalculate box. Select this to be sure that you are capturing and updating your Forecast Usage.
- Check Update Demand Pattern and Update Best Fit Formula.
- Click the Calculate button.
- If the calculations look correct, hit Save, and they will stick.
- Tip: If, for some reason, you do not feel like the numbers came out correctly, you can always click the Undo button which will roll them back.
Once they have finished processing, the calculations will update your Forecast Usage.
Continue Learning: How to use Inventory Adjustments in Prophet 21.
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