Is there a way to do smart inventory order forecasting using the EoQ (economic order quantity) method for computing order quantities based on historical ordering and sales loss minimization?
Although its a too late reply to your query but i hope my solution might help you.As per your query, there is no separate module for Inventory Order Forecasting in Odoo. But one way which can be used that satisfies your query is by configuring Reordering Rules for products in Odoo which is basically based on Forecasted Quantity/Quantity Available.
In Odoo, this Reordering Rules are basically configured for any Product for which we want automatic reordering of quantities, based on certain quantity values of the products. This can be done by following :-
1) Create/Edit any product by following Sales>Products>Products
2) While Creating/Editing any product,on the right hand corner there appears an icon “Reordering Rules”
3) Once you click on it you will land on the configuration page of “Reordering Rules”
4) Here we can set, the “Minimum Quantity” and “Maximum Quantity” of that particular product.
5) By “Minimum Quantity” it conveys the minimum Forecasted Quantity/Quantity Available of that product for which,this rule would trigger.
If we set “Minimum Quantity” value = 10 then, automatically the Reordering Rule would be triggered whenever Forecasted Quantity/Quantity Available of that particular product reaches 10 or below.
6) By “Maximum Quantity” it conveys the maximum quantity of Forecasted Quantity/Quantity Available which should be ordered.
If we have set the Maximum Quantity = 20, then the Forecasted Quantity/Quantity Available would become 20 as soon as the Reordering Rule is triggered. As we have set the minimum quantity to 10 hence total of 10 quantities would be ordered to make total Forecasted Quantity/Quantity Available = 20. This is because as we already have 10 quantities in our Forecasted Quantity/Quantity Available hence only ordering of 10 quantities is required to maintain maximum value of Forecasted Quantity/Quantity Available.
7) Now once Reordering Rule is triggered a Procurement along with a Purchase Order would be generated. Once the purchase Order is confirmed and products are received and transferred, the respective Procurement can be confirmed by clicking on Check Procurement. Once the Invoice is paid in the Purchase Order, the inventory of the respective product is updated and we can see that the Forecasted quantity along with Quantity on hand of the respective product is updated.
In this way we can do smart inventory order forecasting.
Hope this helps
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