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Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter Inventory Forecasting — Everything You Should Know Inventory forecasting allows you to predict when supply chains and consumerdemand are going to change. However, what is it?
It’s becoming more strategic, as companies integrate their Supply Chains and use them as a source of competitive advantage – instead of just a back-office function. In short, companies are using Blockchain’s distributed ledgers to form a public record of where goods come from, allowing consumers to trace goods in the supply chain.
Now-a-days businesses need to be dynamic in ratifying the ever-changing trends of consumerdemand and shift to a more connected supply network, via digitally interconnected devices and complex platforms to keep pace with digital transformations. The next step is to gather these data which are identified at earlier step.
Because handling these tasks manually is time-consuming, plenty of forecasting tools aggregate the data for you. These tools allow you to access real-time data insights – such as cash flow and consumerdemand- that can help you with everything from inventory planning to capacity planning. Delphi Method.
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