Objectives of Demand Forecasting – Why It Matters for Businesses

Demand forecasting is essential for businesses to anticipate customer needs and optimize production. The key objectives of demand forecasting include reducing uncertainty, managing inventory efficiently, improving resource allocation, and ensuring timely product availability. Accurate forecasts help businesses make informed decisions about pricing, promotions, and supply chain management. By understanding market trends, companies can minimize waste and maximize profitability. Whether in manufacturing, retail, or services, demand forecasting plays a crucial role in sustainable growth.

Link: https://thousense.ai/blog/...