Demand Forecasting Accuracy and its Impact on Inventory Management
By Nwanekezi S. C, Ugwu, M. O.Inventory control is a
crucial part of an organization's tasks as it includes cautiously following and
checking portable resources and inventory, which is a key and important
component. It empowers organisations to upgrade creation volumes and timing,
guaranteeing simple accessibility of things to clients for a minimal price. The
central concern in the retail clinical inventory market was the association's
inability to focus on demand determining strategies, which upset its ability to
accomplish benefit and seriousness. This study examines various demand
forecasting techniques, analysing their advantages and limitations and how they
influence their acceptance or non-adoption in inventory management.