How can demand forecasting create value?

Every business with inventory faces the same challenge: How much should we stock? Too much inventory means high costs. Too little means lost sales. AI-powered demand forecasting helps you predict customer demand with greater accuracy, reducing stockouts, excess inventory, and unnecessary costs.

Inventory planning

Avoid costly overstocks and stockouts

Production scheduling

Plan your resources based on accurate demand forecasts

Efficient logistics

Optimize transportation and distribution

Curious about how demand forecasting can generate value for your company?

How does it work?

Steps in the forecasting process

AI projects like this should be tackled in different steps. This way, risk is gradually mitigated in your project. Each phase should be followed by a formal go/no-go decision. The final stage should be the seamless integration of the forecasts in your everyday processes.

Pre-project

Problem definition analysis

Proof of concept

1 product(group)

Scale up

Expansion to other product(group)s

Iterations

Iterative improvement in collaboration with the client

Production

Intergration in everyday workflow

Want to learn more about Demand Forecasting?

In this whitepaper, you’ll learn:

  • What demand forecasting is
  • Why it’s crucial for supply chain optimization
  • The common forecasting pitfalls and how to avoid them
  • The best practices for accurate demand forecasting
  • What the investment for such a project looks like and how to maximize its ROI

Download the whitepaper here

Fill in the form and get your free copy.

InfoFarm Use Case References

Advanced sales analytics in Microsoft Fabric – Manufacturing

Globachem adopted a Microsoft Fabric-based analtyics platform, set up to enhance sales insights and support future AI applications.

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AI-based demand forecasting – Manufacturing

Eduards Trailer Factory invests in a game-changing demand forecasting engine in order to maintain its competitive edge in the trailer market.

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An AI-driven TMS – Logistics

Trans-IT, in partnership with Infofarm, is revolutionizing transport logistics with an AI-driven TMS that automates operations, enhances planning, and enables seamless communication—boosting efficiency, reducing costs, and increasing capacity by 30%.

Read more