inventory management and forecasting

inventory management and forecasting is a crucial process for businesses that deal with physical products. It involves tracking stock levels, managing reorders, and forecasting demand to ensure that products are available when customers need them. Effective inventory management helps businesses minimize excess stock and reduce storage costs, while accurate forecasting ensures that inventory levels meet customer demand. By using inventory management software and analyzing historical sales data, businesses can streamline their operations, reduce waste, and maintain a smooth supply chain.