FORECASTING TOOL FOR PREDICTING FUTURE DEMAND FOR PARTS / MATERIALS / EQUIPMENT

A forecasting tool predicts future demand for quantifiable items in connection with a plurality of projects. The tool has multiple tables, where each table has information therein. In particular, a project table has project information for each project, where the project information includes a reference to items (materials) to be employed in connection with the project. An item table has item information for each item referenced by the project table, where the item information includes a reference to an algorithm to be employed to determine a quantity of the item for a particular project. An algorithm table has algorithm information for each algorithm referenced by the item table. Thus, the quantity of a needed item for a particular project may be determined by determining the specifics of the necessary algorithm, obtaining any inputs necessary for the algorithm from the tables, and applying the inputs to the algorithm.