Use this activity to create a recurring event detail and recurring event templates.
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.
Recurring Event Detail has a description and a number of days, which is how many days that are effected by the event. Then there is a manual calendar that tells when the event has been happening in the past years and when the event is planned to happen in the future. The user has to define the historical event occurrence and when the event will happen in the future. This will have to be maintained as times goes by.
Recurring Events Template is a collection for Recurring Event Details, these Recurring Event Templates are connected to forecast parts. A forecast part will get its forecast calculated based on all Recurring Event Details included in the Recurring Event Template that is connected to it.
A new Recurring Event or Recurring Event Template is available or have been altered.