Improve Demand Forecasting Accuracy PPC - EazyStock

Improve your demand forecasting accuracy and take back control!

EazyStock’s free resource ‘How to Improve Demand Forecasting Accuracy’ outlines the factors that affect your forecast accuracy and the techniques to improve your demand forecasting.

Free whitepaper from EazyStock

Traditional inventory management strategies are no longer effective at dealing with today’s dynamic marketplaces and supply chains. In this whitepaper, we review the factors that affect demand, ways to improve your demand forecast and how to measure forecasting accuracy. We then look at how inventory optimization techniques could provide the answer.

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What you’ll learn:

  • The factors affecting demand
  • Ways to improve your demand forecast
  • Methods to measure your forecasting accuracy

Why is forecasting accuracy important?

Demand forecasting is an essential part of inventory management, but getting it wrong has costly consequences.

Demand forecasting involves predicting customer demand for an item over a defined period, which then determines how much inventory needs to be ordered to cover demand.

Getting the demand forecast correct is a key step for successful inventory management.

The importance of accurate demand forecasting

Reap the benefits of effective demand forecasting.

Get those five-star reviews!

Improve your customer satisfaction by having what you need in stock to meet demand. High fulfillment rates keeps your customers happy and coming back for more.

Eliminate surprise stock-outs.

Thwart the dreaded “OUT OF STOCK” tag for items by optimizing your inventory levels – including setting safety stock levels based on accurate forecasts.

Stop throwing money down the drain.

Only purchase and hold the inventory that you require to fulfill your customers’ orders – no excess or obsolete stock tying up capital or precious shelf space.

Communicate more effectively with suppliers.

Improving your demand forecast accuracy allows you to share your upcoming inventory needs with suppliers to improve lead time reliability.

Ready to get started? Download our free whitepaper on improving demand forecasting accuracy now!

Choose EazyStock inventory optimization

Analyzing each item in your inventory to determine an accurate forecast takes time – poring through sales history to figure out the demand type, then including factors like seasonal demand, promotions, maybe even additional knowledge about upcoming customer orders. Manually generating forecasts takes time and is more prone to error. Plus, forecasts quickly become outdated as new data is collected – so you need to start all over again.

One way to improve accuracy and quickly generate forecasts is by using software that specializes in demand analysis. Companies across industries are therefore turning to inventory optimization tools, such as EazyStock.

EazyStock easily connects with your ERP or inventory management system. It not only produces forecasts at SKU level, but also determines safety stock levels, stock classification and reorder point calculations.

Inventory managers no longer need to be Excel geniuses or ‘human calculators’, giving them more time for strategic decision-making and looking after suppliers and customers.

Why EazyStock?

Ensure stock availability

Ensure stock availability

Make sure you always have the right products on the shelf to prevent stock outs and delight your customers.

Optimize demand forecasts

Optimize demand forecasts

Use advanced algorithms to track product demand, accounting for life cycle stages, trends and seasonality variances.

Lower inventory levels

Lower inventory levels

Get rid of excess and obsolete stock, freeing-up working capital for investment elsewhere in your business.

Automate reordering

Automate reordering

Produce automated order proposals to process in EazyStock or send back to your ERP.

Accurate replenishment

Accurate replenishment

Automatically calculate safety stock levels, reorder points and order quantities to ensure optimized inventory levels.

Be smarter with suppliers

Be smarter with suppliers

Place orders more cost effectively by considering suppliers’ delivery schedules, lead times, discounts and costs.

Improve efficiency and save time

Improve efficiency and save time

Ditch the manual spreadsheets and save time that can be spent on strategy and innovation.

Get a fast ROI

Get a fast ROI

Benefit from rapid ERP integration and get up and running fast with a system that’s easy to deploy.

They already trusted us

Get our free whitepaper on Demand Forecasting Accuracy

Accurate demand forecasting is a key part of inventory management. Without accurate demand forecasting, you can quickly end up with excess and obsolete stock piled up for non-moving items while constantly running out of stock for items with high demand.

EazyStock’s whitepaper How to Improve Demand Forecasting Accuracy can help you take back control of your inventory with demand forecasting best practices.

 

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