Demand Management and Forecasting.

Demand management and forecasting in sourcing and supplier management involve predicting the quantity of products or services needed by a business over a specific time frame. Demand management aims to balance this demand with supply by adjusting orders and inventory levels. Forecasting uses data and trends to make educated guesses about future demands, helping organizations plan effectively. This process ensures that companies have the right amount of goods at the right time, minimizing excess inventory costs and stockouts, ultimately leading to better supplier relationships and efficient operations.