Demand forecasting is a field of predictive analytics which tries to understand & predict customer demand to optimize supply decisions by corporate business management. Demand forecasting has certain important aspects like
Our product aims to determine of the level of production, manpower requirements, equipment and inventory levels.
Reduced dwell time – It reduces the dwell time for services level work.
Balance the inventory – It helps in balancing the inventory with the right amount of products.
Seasonality check – It enables seasonality check so that sales are not much affected by weather and climate conditions.
Order status – It helps in finding out how many orders are help up, where they are located and the items driving backlog.
Returns – It helps you analyse the returns on your products.
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