Production Forecasting

Production forecasting is the process of estimating how much of a product a company will need to produce in the future. This involves analyzing various factors, like past sales data, market trends, seasonal changes, and customer demand. Accurate forecasts help businesses plan their resources, manage inventory, and optimize production schedules, ensuring they meet customer needs without overproducing. Essentially, it's about making informed predictions to ensure efficiency and profitability in manufacturing and supply chain operations.