With the rise in e-commerce and omni channelling, retailers now need to pay more attention to their inventory levels and also, in understanding consumer patterns. Key challenges for companies to operate in this fast-moving market are speed and agility. To do so, they need to be able to make accurate sales forecast. Our Total Customer blog has posted on “Why we cannot go without sales forecast”
An important sales forecast should factor in the following elements:
• Bigger information flow
• Variability of the demand
• Unpredicatble customer behaviour.
As we mentioned in an earlier article on the “Need to have trust for effective collaboration”, there should be sharing of information and experience between stakeholders for accurate forecasting.
Not only are sales forecast needed in the retail and FMCG industries, it is a necessity tool across all industries. Over 50 leading supply chain and logistics leaders will be joining us at SCM Logistics World this June to share their experiences and case studies on the tools and models they have used in their operations for success.
