Review:
Demand Forecasting
overall review score: 4.5
⭐⭐⭐⭐⭐
score is between 0 and 5
Demand forecasting is a method used in supply chain management to predict customer demand for products or services.
Key Features
- Statistical forecasting techniques
- Market research data analysis
- Historical sales data analysis
- Collaborative planning, forecasting, and replenishment (CPFR)
Pros
- Helps companies optimize inventory levels
- Reduces stockouts and overstock situations
- Enhances customer satisfaction through improved product availability
Cons
- Accuracy of forecasts may be impacted by external factors such as sudden market changes or unpredictable events