How does demand forecasting affect inventory management?

Asked 3 years ago

Hi, I'm thinking about possibly adding a demand forecasting routine into my month to better my inventory management. However, I first want to hear it from the more experienced merchants: Have you found demand planning helpful?

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Vincent Fry

Sunday, March 27, 2022

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Demand planning or demand forecasting can help you know the customer needs beforehand and keep your inventory updated. The advanced techniques can let you know the past trends of the products and customers. You can decide which product to restock and how much product should be on hand by acknowledging these trends. You can also estimate the time a product takes to reach you. Consequently, you can reorder the product well before time.

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