Recent Developments in Demand Forecasting for Business Success

Supply chain management has long relied heavily on demand forecasting, which helps companies anticipate consumer demand, maximize inventory levels, and boost operational effectiveness. New trends in demand forecasting are changing how companies approach this important work due to technological improvements and the constantly changing dynamics of the market. Conventional forecasting techniques frequently overlooked abrupt changes in the market or outside influences because they mainly depended on statistical models and historical data. Demand forecasting is being transformed by AI and ML, which produce projections that are more precise and perceptive.