Inventory Forecasting Models

Inventory forecasting models are calculations brands use to anticipate future customer demand and required inventory volumes.

What Are Inventory Forecasting Models?

Projecting future customer demand is critical to maximizing inventory management efficiency and avoiding stockouts. Inventory forecasting models are strategies that brands employ to make such predictions, helping them maintain financial sustainability while meeting fluctuations in customer demand. There are a number of different forecasting models, including: - Geographical forecasting, in which brands spot demand trends based on specific locations - Market trend forecasting, in which brands assess ebbs and flows in the market to predict future demand - Seasonal forecasting, in which brands take holidays and seasonal trends into account In each of these inventory forecasting models, brands use inventory management systems to collect data that can help them predict how their customers' interest in products might shift. From there, they make strategic and informed decisions about inventory volumes to match forecasted projections.

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