Small Business Inventory Forecasting: What it is and How to do it
Inventory forecasting, also known as demand planning, is a data analysis method used by purchasing managers and decision-makers to predict inventory needs, anticipate demand fluctuations, uncover savings opportunities, enhance marketing strategy, and ensure customer satisfaction. Inventory Forecasting & Everyday Data Every single day the world collectively produces approximately 2.5 quintillion – 2,500,000,000,000,000 – bytes of…