Forecasting and Demand Planning: Anticipating Future Demand Based on Past Sales and Market Conditions

By Alan Miklofsky | November 03, 2024

The Importance of Forecasting:

Forecasting allows retailers to anticipate demand and prepare accordingly. By analyzing past sales and considering market conditions, wholesale representatives can provide retailers with insights into expected product demand, helping them avoid stockouts and overstock situations.

Demand Planning Techniques:

Effective demand planning incorporates historical data, seasonal trends, and external factors, such as economic shifts or market changes. Wholesale reps who understand these techniques can guide retailers in adjusting their inventory levels to match projected demand, reducing costs, and improving sales potential.

Supporting Retailers with Accurate Forecasts:

By providing retailers with accurate forecasts, wholesale reps help them align inventory levels with anticipated demand. This proactive approach supports retailers in meeting customer needs efficiently and profitably, enhancing the retail experience.