The evolving discipline of demand forecasting can improve competitiveness and control costs
What does the future hold? It is a question that everyone has contemplated at one time or another, and a mystery that has obsessed writers, mystics, philosophers, clerics, astrologers, and others for centuries.
For businesses, the question is more than philosophical. Discovering clues to what is next is essential to staying competitive, profitable, and responsive to the needs of the marketplace. Retailers that can anticipate consumer trends will stay a step ahead of competitors who just follow the crowd. For manufacturers, forecasting the future is critical for planning production schedules, ordering supplies, and controlling costs.