Demand Forecasting

Once a supply chain strategy has been established, forecasting the demand of goods and services (and their fluctuations) is the key driver of most supply chain related decisions. It facilitates critical business activities like financial planning, sales and marketing plans, material requirement planning, production planning, risk evaluation and formulating mitigation plans. Business performance can therefore be considerably enhanced with effective demand forecasting, resulting in numerous benefits including:

A multivariate forecasting approach, customised to suit the business’ specific requirements, considers: