In human anatomy, your spinal cord is the backbone or the bone that supports your entire skeleton. If you draw a parallel between your business and the human body, what do you think is the backbone of your business? Your…
Accurate inventory forecasting and planning requires using different methods for different scenarios and sets of conditions. One method that’s useful during periods of change is the moving average. What is a moving average? In the simplest terms, a moving average…
No modern business can survive without a proper inventory forecasting system. When businesses don’t plan their stock according to well-researched predictions, they risk lowering customer satisfaction levels, reducing profit margins, and miscalculating production. During the COVID-19 crisis, for example, a failure…
If there’s one thing we have learned during the pandemic, it’s that the developed world is dependent on its supply chain. When people think of the supply chain, most think only of the last two parts of it — delivery…
Sales forecasting is the process of predicting the amount of product that your company expects to sell within a defined timeframe. With a well-informed sales forecast, you can better understand the volume of revenue you’ll bring in during that period.…