Why inventory forecasting software or even demand forecasting software?
“Demand forecasting is essentially a linear process of translating input assumptions into a forecast of expected sales; demand management, by contrast, is a highly iterative process that involves driving to a revenue and profit target through prioritization of customers, channels, products, geographies and the demand stimulation programs available to the enterprise.” (Aberdeen Group)
So if that in itself does not sound like the need for inventory forecasting software or even demand forecasting software then what does?
Still, many companies still cling to “order now, think later” strategies that fail to take into account the various, often subtle factors that can affect the success or failure of their purchasing and on the growth of their company. When one considers the increasingly virtual and volatile nature of commerce, this can and does have dramatic implications.
Forecasting demand without any inventory forecasting software is not easy when you think that it no longer measured in weeks and months; it is now gauged in days and sometimes even hours. So if a companies process for gathering, disseminating and utilizing inventory and demand data takes too long, or this data is marked by redundancies, inaccuracies or irrelevancies, information can lose what is now a smaller window of opportunity to provide meaning and impact on the growth of your business.
This leads to Why inventory forecasting software or even demand forecasting software, naturally the ability to generate a nearly instant forecast that can be applied today and not next week will be essential to strengthening the bottom line, gaining valuable market share, keeping inventory lean, and continually meeting and exceeding customer expectations.
Everyone should now know that keeping inventory levels low, costs down and customers happy in any eCommerce, now largely global marketplace requires companies to proactively forecast and manage supply and demand dynamically supported by best-of-breed techniques, technologies and practices. Today, this calls for a delicate balance of art, science and technology which you can only find in Intuendi Inventory Forecasting Software.
Anyone can benefit from inventory forecasting software or even demand forecasting software, regardless of your size. The key to growing any business is to have the right inventory available at the right time so you can focus on what you do best! That is where we help, try Intuendi, so you know what you are selling tomorrow.