Core Objectives of Demand Forecasting

Published by: thousenselite, Fri May 24 2024

demand-forecasting, demand-planning, sales-forecasting, artificial intelligence, technology

Demand forecasting is a critical process for any business aiming to stay competitive and efficient in today’s dynamic market. The primary objectives of demand forecasting include predicting future sales, understanding market trends, and optimizing inventory levels. By accurately forecasting demand, businesses can make informed decisions regarding production schedules, staffing, and resource allocation. This helps in minimizing costs and maximizing profits.

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