How to select the right inventory forecasting models
08/04/2022 Computer - IT - Webs
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Description
Inventory estimation or forecasting can be defined as a process of predicting inventory for future time periods. More specifically inventory estimation is a scientific approach of predicting revenue generation during a specified period of time based on the precisely designed proposed marketing plan.
Benefits of inventory forecasting
-Less inventory needed on hand
-Less Manual Labour
-More sales from fewer out-of-stock items
-More efficient production cycle
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Shashi Saurav
Individual
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