AI demand forecasting involves the use of machine learning algorithms to predict when stock is likely to run low based on customer behaviour and purchasing trends.
By accessing historic data, AI can tap into analytics models to accurately estimate when you might run into issues with stock so you can be proactive.
AI can run simulations based on product price, consumer demand, and market conditions to guide decision-making in introducing new products and maintaining optimal stock levels.
AI demand forecasting helps retail businesses avoid overstock by preventing excess inventory and stockouts by ensuring enough stock to meet demand, improving overall efficiency.
#ai-demand-forecasting #retail-industry #inventory-management #machine-learning-algorithms #stock-optimization
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