Why Forecasting is Important in Supply Chain Management

Utilizing real-time data, supply chain management can assist in the process of anticipating and monitoring the supply chain, which synchronizes the demand-supply cycle. As a result, the stock becomes less likely to remain underused. For instance, a manufacturer of baked goods utilizing SCM software can keep an eye on its stock levels and send an online order to its vendors in advance of a spike in demand. Whenever it involves overseeing your supply chain, experience is a plus. Possessing years of market information helps you better estimate future demand.