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Updated in [July 25th, 2023]
Demand forecasting, also known as sales forecasting, is the process of making estimates about future customer demand over a certain time period. It uses historical data along with other information to help businesses plan, set goals, and budget. With a good understanding of what future sales may look like, businesses can optimize their inventory levels, increase inventory turnover rate, and reduce holding costs. Additionally, demand forecasting provides insight into upcoming cash flow, allowing businesses to budget payments for suppliers and other operational costs. It also helps businesses anticipate when to increase staff and allocate other resources to ensure operations run smoothly during peaks in activity periods.
Course Syllabus
Introduction
