You are a retailer and it's time to place an order for a certain line of items for the upcoming season. Purchasing in bulk will save you money; however, how do you know how much of each item you should order?
Ordering too much will result in unsold quantities that will have to be put on clearance with very little or no margin. Ordering too little will result in customer dissatisfaction and loss of sales. You will be sending your customers to your competitors. Either way, not knowing how much you will be selling in the short, medium, and possibly long term is extremely costly.
While nobody has a crystal ball, Dunn Solutions' data scientists leverage the power of machine learning to incorporate the effects of seasonality, industry trends, pricing and promotional efforts into their forecast to predict future sales with unparalleled accuracy.
Sales Forecast Consulting - Third Level SubSection
Sales forecasting is critical to properly manage your inventory. By knowing how much you are expected to sell in the next periods, you will always have the right quantity at hand. The cost of having excess inventory will dramatically decrease and you will never have to turn customers away for being out of stock. Dunn Solutions' Sales Forecasting Consultants will help you predictively manage your inventory.
Financial and Strategic Planning
Accurately anticipating sales gives your organization the ability to predict future revenue and profit. Free up the cash tied up in excess inventory and use it for expansion and growth instead!
Improve Market Strategies
By incorporating external factors into the forecast, your organization can anticipate a variety of "What-if scenarios": what if consumer confidence falls 1% or the cost raw material increases by 30%? Further, by understanding how external factors are changing and incorporating them into their prediction, companies can make smarter decisions about entering growing segments or exiting declining ones. Dunn Solutions' Sales Forecasting Experts will help you improve market strategies.
Sales Forecasting Metrics
Dunn Solutions' Sales Forecasting Consultants provide you with sales forecasts for the agreed-upon time horizon as well as:
- Quality control and reforecasting
- Promotion Effectiveness
- Impact of Seasonality, external factors, internal factors