What is forecast in SAP MM-PUR - Purchasing?

SAP Term: forecast

• Component: MM-PUR

• Component Name: Purchasing

• Description: A quantity of a material that is required in the future, irrespective of whether this requirement has previously been transmitted to the vendor. The schedule line type "forecast" represents an anticipated future requirement. There are two other types of schedule line: "backlog" a past requirement that has already been transmitted but for which no goods have yet been delivered and "immediate requirement" representing an immediate need that has not yet been transmitted to the vendor.

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• Key Concepts: 
  Forecasting in SAP MM-PUR Purchasing is the process of predicting future demand for materials and services. It is used to plan and manage inventory levels, anticipate changes in demand, and optimize purchasing decisions. Forecasting can be done manually or with the help of an automated system. 
  
  How to use it: 
  In SAP MM-PUR Purchasing, forecasting is done by creating a forecast profile. This profile contains information about the material or service being forecasted, such as the forecast period, the forecast method, and the forecast parameters. Once the profile is created, the system will generate a forecast based on the parameters specified. The forecast can then be used to plan and manage inventory levels and optimize purchasing decisions. 
  
  Tips & Tricks: 
  When creating a forecast profile in SAP MM-PUR Purchasing, it is important to consider the accuracy of the forecast. The accuracy of the forecast can be improved by using more accurate data sources and by adjusting the parameters of the forecast profile. Additionally, it is important to regularly review and update the forecast profile to ensure that it remains accurate. 
  
  Related Information: 
  For more information on forecasting in SAP MM-PUR Purchasing, please refer to SAP Help documentation or contact your local SAP support team. Additionally, there are many online resources available that provide tips and tricks for forecasting in SAP MM-PUR Purchasing.