Families & Groupings
Families and Groupings is an essential tool for any organisation in a demand-driven environment allowing for the aggregated view, and manipulation, of both sales and forecasts and providing input to material requirements planning.Inventory Families and Groupings provides the tools to arrange ‘collections’ of stock-keeping units (SKUs) into families and groupings of similar items. These collections provide a high-level view of items from which sales forecasts can be produced and the quality of the forecast measured. A significant feature is the ability to group warehouses for purposes of forecasting at a regional or territory level for logistical or supply chain purposes. There is also the feature for forecasts to be generated at a brand level to facilitate a clearer marketing picture.
The benefits of Families & Groupings
Families and Groupings refers to the various collections of inventory items classified in a way that is meaningful to your business (e.g. you could classify a ‘filter’ as an OEM product, a spare, a paper filter, an oil filter, etc). The need for Families and Groupings arises from a business scenario where, owing to the number of stock codes or stock keeping units (SKUs) the forecasting of individual stock items would constitute an unmanageable workload. It also makes sense to ‘collect’ common stock codes into a family or group.