Demand F
orecasting
Crystal Ball for Business
Predicting future demand is crucial for businesses of all sizes.
What is Demand Forecasting?
Demand forecasting uses historical data, trends, and market insights to estimate future demand.
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Why is Demand Forecasting Important?
Helps businesses optimize inventory levels.
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How to Do Demand Forecasting
Gather historical sales data.
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Types of Demand Forecasting Methods
Quantitative methods use historical data.
· Qualitative methods rely on expert judgment and market research.
Benefits of Accurate Demand Forecasting
Increased sales and profitability. Reduced inventory holding costs. Improved customer satisfaction by meeting demand effectively.
The Future of Demand Forecasting
Machine Learning and Artificial Intelligence are transforming demand forecasting, enabling more accurate and dynamic predictions.