Let’s start with a story. Say Sabrina has a boutique. She is relatively new to this business. Therefore, for promotional purposes, she offered a huge discount on her products on the eve of New Year. The good news was she got a huge response.
But sadly after 2 days, she hit a roadblock. She was out of stock. So she couldn’t fulfill her orders. That tarnished her reputation and she got bad reviews even her product quality was great. So, how did this happen? Two words- inventory forecasting.
The impact is not always as huge as Sabrina’s. But for the