Demand Forecasting Software, Why You Will Want It!
Managing any type of inventory is a delicate balance between supply and demand: stock too little of an item, and you will not be able to meet your customers’ needs. Stock too much of an item, and valuable dollars and warehouse space will be taken up by slow-moving or dead stock which will result in dead money.
Understanding the intricacies of this balance requires that you track inventory usage with inventory demand history and the unique patterns associated with each inventory item in your warehouse. However, following every inventory item history on a weekly, monthly, and yearly basis, while manually calculating averages and forecasting formulas in excel will create errors and takes time – time that could be better spent on proactive duties like expanding operations or broadening your customer base.
So what are you meant to do? Well, to help you effectively manage these challenges, Intuendi has developed an advanced inventory demand forecasting software. solution to meet these issues and those of any growing company. Demand forecasting software from Intuendi provides you with greater inventory accuracy by automatically identifying the unique demand pattern for each item you stock.
At Intuendi we have built our software using the best forecasting and data scientist minds in Europe coupled with machine learning to create a demand forecasting software solution that can increase the accuracy of your forecast and can improve your understanding of the relationship between forecast and usage patterns. Which in turns means reduced overstocking and no lost sales due to stockouts, so delivering greater profitability for your company.
Our demand forecasting software solution is about understanding your business and helping you understand the demand forecasting too. So, to foster a greater understanding of your inventory, Intuendi demand forecasting software includes graphical displays of the actual usage with the current inventory demand forecast by item, category, and region. By automating those manual calculations, Intuendi inventory demand forecasting software eliminates errors and reduces purchasing time so that you can focus on increasing sales and boosting customer service and who does not want that?