Use this activity to create a new Recurring Event Template, the Recurring Event Details in the left box are available to be included and the list of Recurring Event Details in the right box are included in the selected Recurring Event Template you move Recurring Event details from one box to the other with the arrow buttons between the boxes.
A Recurring Event Template is connected to a forecast part and all the Recurring Event Details the template consists of will be used to cleanse the adjusted demand and calculate the forecast of the forecast part.
The purpose with Recurring Events is to have a way to forecast and remove the event effects from the adjusted demand, the nature of these recurring events is that they occur at different times of the year from one year to the next and that they are likely to have an impact on the forecast. Examples of such events is Chinese New Year, Festivals, Rock Concerts, Sporting Events etc. What Demand Planning will do is to remove the event effect from the adjusted demand vector during the historical event period (between the start and end dates) preventing the event occurrence to have negative impact on the calculation of the future forecast and seasonality calculations. Then Demand Planning will compute the recurring event effect for each day during the event and then apply this effect to the future forecast when the recurring event is planned to take place in the future.
A new Recurring Event Template is created or edited and ready to be used for calculation of forecasts on the forecast parts having the template set.