How Does Demand Forecasting Software Works Best For Your Business
Predicting customer demand used to be an art. Now, it all comes down to data. Supply chain forecasting is close to impossible if you don’t have a better understanding of the future. Especially businesses like e-commerce supply chains because they are made up of many moving factors. There are various methods that can be used to evaluate supply chain forecasting without hiring a psychic to predict your company’s future. In this article, we will discuss the methods and their importance for a better understanding of future prediction. What Is Supply Chain Forecasting? Supply chain forecasting is all about using research and data to make accurate future predictions. This evaluation helps in better inventory planning and enables you to save money and increase profits. Although supply chain management is directly correlated with sales projection and demand planning , it also helps you with your production pace, labor costs, and product pricing. Quantitative And Qualitative Forecasting ...