Demand Forecasting Service
autor Blue Sky Global Retail Solutions
Demand Forecasting Service for Retailers
Retailers are under unprecedented pressure to plan and execute inventory across the business in a rapidly changing environment. Forecasting consumer demand is a key step in anticipating inventory need in the business.
Building an accurate consumer demand forecast is not easy however, especially when historical data has little similarity to demand impacted by COVID lockdowns. In the event that forecasting is produced based in 2018 and 2019 historical data, it is important to heavily factor in 2020 and 2021 since historical sales profile curves will likely look radically different from 2019 to 2020 due to the dramatic impact of COVID lockdowns on retail results world-wide.
We have designed our consumer demand forecast service to provide retailers with the insight and information needed to make educated decisions when planning inventory short term (3-5 months) and long term (12+ months).