In today’s fast-moving landscape, manufacturing operations face several challenges. These include maintaining proper stock levels to meet ongoing customer demand yet not to boost inventory, addressing seasonality sales, ensuring adequate personnel and equipment availability, all of which significantly influence manufacturing decisions. AI technologies such as machine learning and predictive analytics play a crucial role in improving the accuracy of demand forecasting, resulting in increased value generation, heightened customer satisfaction, and sustaining a competitive edge. In this blog, we dive into the significance of demand forecasting in manufacturing, its advantages, the associated challenges, and strategies for overcoming them.
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