Sales forecasting time is here again

Companies that don’t do a detailed forecast are greatly limiting their ability to marshal their resources to meet customer demand effectively. They will likely be caught with too little or too much inventory at some point, the need for expediting or overtime, and some disappointed customers and lost sales.

What’s in your holiday stocking?

Business and profits can increase in the coming year, new products can soar to unexpected heights, inventories can shrink (in a good way) and productivity can reach an all-time high. Now here’s the bad news: none of these things will be delivered into the stocking hung on the fireplace mantel by some jolly fat man in a soot-stained red suit.

Why have inventory?

Inventory is a fact of business life for every manufacturer, distributor, retailer or any other business that deals with a physical product. Acquiring, handling and managing inventory is a significant expense. Most businesses are constantly looking for ways to reduce inventory.

10 million iPhones

Just three days after the launch the entire initial stock planned for the release of the Apple iPhone 6 was committed – someone had to forecast what the demand would be.

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