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· 4 min read
Oleksandr Drok

Accurate inventory forecasting and demand planning are essential for any store that work with its own warehouses. The precise forecast allows for preventing out-of-stock for trending products, reduces overstocks, and in time identity dead inventory.

Opposite to inventory value report, inventory forecasting - also known as demand planning - asks questions for all three time periods:

  • Past: How many products were sold and how fast?
  • Current: What is the actual stock status?
  • Future: How many products do we need and when?