Demand Forecasting

The process of estimating the quantity of a product or service that will be purchased is called ‘demand forecasting’. Traditional approaches to demand forecasting were often informal, but contemporary information systems frequently employ more formal and quantitative methods.  Sharing demand forecasts with suppliers is a key to matching supply and demand and helps reduce system-wide inventory. See also Supply Chain Management.

Demand Planning e-Learning courses are available at Academy of Procurement.

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Discover the world’s largest Glossary of Procurement terms

With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.