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What is Sales Forecast & Stock Optimization
Sales forecast is the prediction of future sales based on historical trends and external factors such as weather, events, discount, etc.
Stock optimization is the process of maintaining the right amount of stock required to meet demand by using information of sales forecasts.
Why?
Stay competitive by planning growth or decline in sales. Improve business decisions on a daily basis by ensuring adequate stock of products and raw materials.
Useful for
- Sales Team
- Purchasing Department
- Planning Team
Sales Forecast Example
The image above shows an example of sales forecast for specific product.
Predictions are made every month (Today) for next 6 months (represented with blue line) based on historical sales data (represented with green line).
Benefit
- Reduce the number of out-of-stocks
- Reduction in inventory value -> Enhance profitability
- Enables continuous strategic and financial planning
Roles
- Head of Sales
- Supply Chain Director
- Production Manager
Industry
- Telco
- Retail
- Pharma
TOP 5 reasons
1. Consolidated data
2. Increase of employees effective work
3. Automatization of business processes
4. More efficient production cycle
5. Increase of customer satisfaction