What is Demand Forecasting?
Demand forecasting is an activity involving top management and the sales team where demand is projected or forecasted by product SKU and customer for a given period of time (i.e the Sales Horizon). Most companies use sales forecasting software to help them model the historical sales activity and the demand estimates provided by the sales team to create a future projection. Demand forecasting in the supply chain is a difficult task. The accuracy of the forecast has an enormous impact on the cost of manufacturing. Un-forecasted demand often generates overtime costs, expedited material costs, and expedited shipping costs. To reduce these added expenses, improved measurements to the accuracy and improvement of forecasting is essential to any manufacturing company. Does RAM Supply Chain offer help with demand forecasting techniques? RAM Supply Chain has a proprietary process for working with the sales and operations team to develop a more accurate demand forecasting method. The RAM Supply C
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- What Is The Importance Of Demand Forecasting?
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