Application of AI in demand forecasting for retail​

Demand forecasting is crucial for accurate and effective inventory management in the retail industry. Most retailers and distributors struggle to meet customer demands with the right products in the right place, quantity, and time. Inventory management is typically the largest capital investment for retailers, with working capital tied up in inventory investment. Understanding the impact of demand volatility on demand forecasting is a major challenge for business executives today. To address this challenge, companies often add excess inventory to protect against inaccurate forecasts. In this whitepaper you’ll learn:-

  1. Factors influencing demand forecasting in Retail
  2. Trends in Demand forecasting 
  3. Demand forecasting methods and why it  is a key in retail?
  4. AI augmented demand sensing
  5. 8 steps for improving forecasting accuracy with AI and how Predactica helps

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