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Effective inventory forecasting, demand forecasting, inventory planning, and demand planning are essential elements of modern supply chain management. Companies that excel in these areas can maintain the right balance between having sufficient stock to meet customer demand and avoiding the overstocking of inventory, which can lead to unnecessary st

Effective inventory forecasting, demand forecasting, inventory planning, and demand planning are essential elements of modern supply chain management. Companies that excel in these areas can maintain the right balance between having sufficient stock to meet customer demand and avoiding the overstocking of inventory, which can lead to unnecessary st