inventory management forecasting

inventory management forecasting is a technique used by businesses to predict future inventory needs based on historical sales data, trends, and other factors. By forecasting demand for products, companies can avoid stockouts or overstocking, improving efficiency and reducing costs. Inventory management forecasting involves analyzing past sales patterns, market trends, seasonal variations, and lead times to estimate future demand. Advanced inventory management systems can automate this process, allowing businesses to adjust their stock levels accordingly and ensure that products are available when customers need them.