Calculate a Forecast Based on Previous Month Numbers
Update: ON HOLD FOR NOW
I have records that track production volumes. The records include 2 values: an actual amount and a forecasted amount. I would like the forecasted amount to be a formula field but I'm struggling with how to write the formula. The formula should be based on a set growth rate that varies by the Business Dept. Here are the fields:
Record ID |
number |
Related Business Dept |
Relationship look up populated from Process ID |
Related Process ID |
Relationship populated ID |
Period (always 1st of the month) |
User entered date |
Actual Units |
User entered number |
Forecasted Units |
number formula to calculate forecasted amount + growth rate. Each Business Department will have their own set growth rate. The example here uses 0.02 |
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If Business Dept = xxx and previous month's (same Process ID record) Actual Units is 0, populate Forecasted Units with (previous month's Forecasted Units + (previous month's Forecasted Units * 0.02) |
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If Business Dept = xxx and previous month's (same Process ID record) Actual Units is >0, populate Forecasted Units with (previous month's Actual Units + (previous month's Actual Units * 0.02) |
Sample
Record ID – 1
Business Dept – ABC
Related Process – 228
Period – 5/1/19
Actual Units – 75
Forecasted Units – 50
Record ID – 2
Business Dept – ABC
Related Process – 228
Period – 6/1/19
Actual – 0
Forecasted Units – 76.5 Use previous month's Actual: 75 + (75*0.02)
Record ID – 3
Business Dept – ABC
Related Process – 228
Period – 7/1/19
Actual Units – 0
Forecasted Units – 78.03 Use previous month's Forecast: 76.5 + (76.5*0.02)
Any help would be greatly appreciated!
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Noreen Justice
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