The Technology Headlines DEMAND FORCASTING & AI | Page 14

THE
10 BEST
TECHNOLOGY
DEMAND FORECASTING TECH
HEADLINES
SOLUTION PROVIDERS
TO WATCH IN
2019
D
emand forecasting is one of the fundamental analyses necessitated by each business.
It plays a pivotal role in shaping how a business should be operated in each month and
year. Through this tactical business technique, businesses estimate possible demand
that would come for a product or service in the near future. Since the estimation process is
based on data and scientific evidence, the strategy of demand forecasting has been conceived as
a critical component that determines the life of a business.
Through demand forecasting, an organization is capable of making critical business decisions
that supposed to be acted in the future. It includes—turn over, profit margins, cash flow, capital
expenditure, and risk assessment. This drives organizations to be determined on the production
process, purchase of raw materials, management of funds, and price of the product.
In the business sector, large-scale production industry utilizes demand forecasting strategy
than any others in the field. Since the large scale production requires a long gestation period,
demand forecasting enables businesses to put together long term planning regarding their
future endeavors. This helps them to avoid excess production as well as under-production—
both are appropriate to bring financial trouble to an organization.
In a nutshell, demand forecasting proposes the backbone of a successful business venture.
Without implementing this technique, businesses may face deep-seated consequences followed
by poor manufacturing decisions that can be resulted in the complete collapses of the stock
management, supply chain industry, and profitableness.
In this edition of The Technology Headlines, our editorial team focuses on some of the “10
Best Demand Forecasting Tech Solution Provider”, which are well performing, and competent
companies who are working with demand forecasting solutions at length. These featured
companies in the list have brilliantly crossed each barrier, and have themselves marked
trajectory to their success.
DEMAND FORCASTING TECH
AUGUST 2019
14