Unlocking the Power of Inventory Management
Inventory management, a seemingly mundane aspect of business operations, holds the key to a world of efficiency and profitability. It’s the art of determining the optimal levels of inventory to meet customer demand while simultaneously slashing holding costs. If that doesn’t sound compelling yet, let’s …
Demand forecasting: Predicting customer demand accurately to optimize production and inventory levels.
Q: What is demand forecasting? A: Demand forecasting is the process of estimating future customer demand for a product or service. It involves analyzing historical data, market trends, customer behaviour, and other relevant factors to predict future demand patterns. Recent advancements in AI and ML …