Demand forecasting is an essential tool for the operators to determine potential future requirements of customers. Forecasting figures are usually determined by analyzing historical sales data and trends, being aware of market variations such as new trends, seasonal variations and new products that are brought into the market by potential competitors all of which can impact consumer demand.
Demand forecasting also facilitates critical business activities, like financial planning, inventory planning, production planning, risk assessment, and the purchase of products/raw materials. Most importantly, forecast accuracy enables operators to avoid stock outs and over stocking, improve production lead times, minimize costs, increase operational efficiencies, and improve the customer experience.
Clea cloud uses the historical data and considers other factors to forecast the sale which will help you make decisions about supply and demand. Using this app you can forecast sales, in dollar value as well as in terms of number of sales, for any product in any vending machine, or vending machines of a particular region based on consumption data, trends, seasonality etc.