Effective inventory forecasting can mean the difference between profitability and piles of unsold goods that eat up your available cash. When used correctly, companies can better plan for potential dips or surges in sales, save money on storage and keep customers happy.
We’ve put together a top-to-bottom guide on the importance of inventory forecasting and how to get started in your own organization.
Accurate forecasting determines how much product a business needs to fulfill customer orders, and it also ensures that they don’t spend too little or too much on inventory.