Inventory Forecasting Basics
Inventory forecasting means estimating what stock the business will need in the future.
Use sales history
Past sales can show which products are likely to be needed again.
Consider seasonality
Some products sell better during certain months, holidays or weather conditions.
Watch supplier lead times
If suppliers take time to deliver, order earlier to avoid stock-outs.
Avoid guessing
Forecasting works better when based on records rather than memory.
Good forecasting helps avoid both overstocking and understocking.
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