Inventory forecasting is estimating the quantity of particular products which your company needs on hand in order to meet the future requirements of your customers. Essentially, it involves educated guesses based on the (hopefully) effective interpretation of quantitative sales data from test markets. The acquired information can then be implemented in pricing decisions or assessing future supply chain requirements for your company. This is information is absolutely necessary to run your business, whether your company is a retailer of industrial equipment, importer of electrical components or you own your own online clothing store. Whatever your business, inventory forecasting is always key to optimizing your company’s supply chain planning.
Effective inventory forecasting can generate higher profits for your company by increasing your cash flow and greatly reducing inventory and inventory obsolescence. However, if you’ve attempted your own forecasting (using Excel, for instance) then you are painfully aware of both how much time it takes and how inaccurate it can sometimes be.
Our dedicated analysts at MaxQ Technologies have a wealth of expertise which they will put to work for you in performing your company’s inventory forecasting duties. Our team of professionals all have plenty of experience in dealing with issues relevant to your business and our easy to use but advanced technology ensure that you can will get the job done. Our goal is to help you run you business at maximum performance!
Our products and services can help drastically reduce your inventory costs and boost customer service in under a year by minimizing the time and resources you spend on inventory forecast and increasing its accuracy . We offer features capable of forecasting thousands of items in minutes, choosing the best fit from many different forecasting techniques to pick the optimal one for each of your products and demand patterns. In addition, our analytics help you ensure optimal sales and forecast tracking accuracy for your peace of mind.
Contact us for more information on how we can help your company meet its inventory forecasting needs