Poor forecasting can lead to under- or overstocking, both of which inflate distribution costs. Use data analytics to understand demand patterns and adjust your inventory accordingly. The goal is to minimise the need for rush shipments or excessive storage, both of which eat into your margins.
Anticipating customer needs also helps you plan for seasonal fluctuations, making sure you’re prepared without overcommitting resources. Better forecasting doesn’t just lower costs - it improves customer satisfaction, too.
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