Forecasting

Forecasting data updates monthly for plastic inventory. New plastic inventory begins populating fields following a full month of production usage. Forecasting requires seven months of plastic inventory data for complete estimates.

Notifications are sent every Tuesday when inventory drops below seven months, and notifications discontinue once an action is taken. When inventory reaches zero, email notifications stop.

Field Descriptions:

As Of: The date that forecasting data was calculated. Forecasting is calculated on a monthly basis.

Est Months Remaining: This calculation is used to provide an estimate based on your previous usage and your known reissues. The calculation makes some assumptions that your upcoming eight months of reissues will have similar daily volume (Lost/Stolen and new account) based on your history.

How We Calculate Estimated Months Remaining

Keep in mind that the Estimated Months Remaining value is only an estimate and it is up to your financial institution to monitor and manage stock. The estimate considers your program’s consumption and uses assumptions based on inventory management best practices and historical data.

To calculate the estimate, the system takes into account your historical usage and upcoming reissue information, and compares it to your current on-hand stock. If your estimate is over 36 months, it displays your Estimated Months Remaining as Over 3 Years. Should your information not have enough historical or upcoming reissue information to populate data, N/A is displayed.