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When it comes to Supply Chain Management, forecasting has a significant role to play. To any business, forecasting enables you to ensure that you or your company is equipped with enough supplies to meet the customer demand or customer satisfaction. With the implementation of ERP software, one can easily forecast the customer demands in advance that too for weeks and months.
Supply chain management is one of the strenuous tasks to accomplish. There is always an environment of constant pressure for the supply of goods and the company does everything to meet the needs of their customers.
Forecasting or estimation of goods is the first and foremost action triggered by any company. If the forecasting is not properly envisioned, it can cause great loss to the company.