Production Forecast for a Manufacturing Plant using Acumatica

What is a Production Forecast for a Manufacturing Plant?

A Production Forecast in the context of a Manufacturing Plant serves as an indispensable tool for planning, widely used by production and plant managers. Its primary purpose is to predict the manufacturing plant’s production output for the upcoming months within a given year. An essential aspect of this planning model is its automatic presentation of factual quantities for specific items throughout the year. These quantities are influenced by both price and volume metrics. The template includes distinct sections for different plants being considered. At the pinnacle of the template, a comparative graph allows for a side-by-side assessment of actual versus projected figures for each plant. An illustrative example of this planning template is provided below.

The Significance of Plant Production Forecasts

Plant Production Forecasts hold considerable importance within the sphere of manufacturing enterprises. They provide an ongoing view of the expected revenues generated by each product a plant produces. Integral to robust business strategies within Financial Planning & Analysis (FP&A) divisions, these forecasts empower companies to gain a better understanding of revenue and profitability prospects. They also mitigate the risk of managerial errors that might result from a lack of insights into predicted product-generated revenues tied to anticipated production.

Advantages for Users

The value of a Production Forecast model transcends mere numerical projections. It functions as a dynamic tool that empowers various business roles to make more informed decisions and enhance operational efficiency. By offering a clear overview of expected production levels, these forecasts enable production and plant managers to optimize the allocation of resources, ensuring that materials, labor, and capacities align with projected demands. This proactive approach minimizes the chances of overstocking or underutilization, leading to cost savings and streamlined operations. Furthermore, the visibility provided by such forecasts equips financial planners and analysts with the insights necessary to devise accurate budgeting and resource allocation strategies. Armed with a comprehensive understanding of anticipated revenues, businesses can prioritize investments, manage cash flows, and allocate funds to areas that offer the greatest returns. Hence, the Production Forecast model goes beyond its quantitative function, fostering a culture of data-driven decision-making and operational excellence among business users.

Plant Production Forecast Example

Here is an example of a Production Forecast input form by product and plant.

Production Forecast for a Manufacturing Plant using Acumatica

Production Forecast for a Manufacturing Plant Example from Solver

You can find hundreds of additional examples here.

Who Uses This Type of Planning Template?

The typical users of this type of planning template are: CFOs, plant and production managers, budget managers.

Other Planning Templates Often Used in Conjunction with Plant Production Forecasts

Progressive Financial Planning & Analysis (FP&A) Departments sometimes use several different Plant Production Forecasts, along with labor forms, capex, other operating expense forms and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Acumatica, Sage Intacct, Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Learn More About Solver CPM For Manufacturing


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