Accurate demand forecasting is a challenging task, especially in volatile markets characterized by rapid changes in consumer behavior and economic conditions. In this article, we share proven strategies for improving demand forecasting accuracy, such as incorporating advanced analytics, leveraging machine learning algorithms, and utilizing external data sources. We’ll also discuss how solutions like Kinaxis RapidResponse® can help you continuously refine forecasts and respond swiftly to demand fluctuations, minimizing excess inventory and stockouts. By mastering demand forecasting, you can achieve leaner operations and better alignment between supply and demand.
