ATLANTA, July 20, 2017 – Data Profits, a mid-tier retail and wholesale demand forecasting and replenishment SaaS system, releases a new video: “P’s of Retail”. This video highlights four ideas that need focus in replenishment software for retail/ wholesale business to thrive in the digital age. Data Profits, highly popular blog has argued against several publications that claim retail ‘brick and mortar’ is dead. Explanations for the death of ‘brick and mortar’ point to the failure of retail technologies to adapt the digital age. Legacy forecasting and replenishment systems do not have the technology needed to adapt fast enough to the market shift brought in by digital technology.
We know millennials along with the rest of us learn better watching a video. YouTube and others have littered the internet with misinformation they call demand forecasting. Because the software says demand forecasting doesn’t mean it is demand forecasting, ha – obvious, right? Did you know there are differences in demand forecasting and sales forecasting? Google ‘Demand Forecasting videos’ and the top results are all using sales forecasting methodology, Not Demand. The inventory results caused by people using sales forecasting are costing companies millions of dollars. If demand forecasting and sales forecasting for inventory replenishment are the same, why use two different words: demand and sales? Most forecast videos talk about forecasting techniques and at some level forecast algorithms. The truth is the forecast algorithms for demand forecasting and sales forecasting can be the same. The key difference between demand and sales forecasting is the data being used in those algorithms.
ATLANTA, April 27, 2017 – The Data Profits Team has noticed the most Frequent Question we receive is “What is The Difference Between Demand Forecasting and Sales Forecasting?” In fact, our most-read blog of all time deals with this subject. Even though this blog post is over 5 years old, it still attracts thousands of users to our website www.data-profits.com each month.
Data Profits’ goal is to educate our customers and readers/viewers of our blogs, SlideShare presentations, and YouTube videos.
Data Profits’ Video: “See Differences Between Demand Forecasting and Sales Forecasting for Inventory Replenishment”
We realize that millennials and others learn better by watching a video rather than reading a blog. Therefore, we introduced a new video that helps explain the Difference Between Demand Forecasting and Sales Forecasting. Click Here to watch our new video. Even if you feel you know Difference Between Demand Forecasting and Sales Forecasting, you may pick up a few tips for educating others.
Demand Forecasting Methods Highlight Differences between Demand and Sales
Demand Forecasting software will measure and account for Lost Sales, overstock and closeouts. These are three pitfalls of not having a demand forecasting software solution. Sales forecasting methods doom you to repeat last years sales. Without real Demand Forecasting, tracking lost sales is only a KPI. Read More