Product Demand Forecasting

Product demand forecasting is the process businesses use to predict how much of a product customers will want to buy in the future. By analyzing past sales, market trends, economic conditions, and other factors, companies can estimate future demand. This helps them make better decisions about how much inventory to produce, how to plan their resources, and how to meet customer needs without overstocking or shortages. Accurate forecasting improves efficiency, reduces costs, and enhances customer satisfaction by ensuring products are available when needed.