Introduction
Learning how to use sales and inventory forecasts is important for users and business decision makers. Predicting potential sales by using historical data gives a clear overview of expected stockouts.
Managing inventory requires a delicate balance. Carry too little inventory, and you'll lose orders (and customers). Carry too much inventory, and you'll impede the essential working capital. Carrying excessive inventory results in you potentially having to discount, or worse, write off obsolete products.
The Sales and Inventory Forecast extension uses Cortana Intelligence to analyze historical data to predict future demand so that you can base procurement decisions on accurate and reliable forecasts. Using this extension can help your company avoid lost revenue, optimize shipping costs, discover trends, and boost your brand reputation by always delivering on orders.
Inventory management is a tradeoff between customer service and managing your cost. From one point of view, low inventory requires less working capital. Contrarily, stockouts potentially lead to missed sales.
The Sales and Inventory Forecast extension predicts potential sales by using historical data and provides a clear overview of expected stockouts. Based on the forecast, the extension helps create replenishment requests to your vendors and ultimately saves you time.