Forecasting

All of the following are the factors affecting demand forecasting EXCEPT.

• geographical preferences

• Less inventory needed on hand

• technological advancement

It is a process that analyzes past sales data, customer demand trends, and seasonal historical data to predict the amount of business a restaurant will get in the future

• Historical data

• Inventory forecasting

• Demand forecasting

This means looking at things like weather, upcoming events, holidays, or market changes that might affect sales.

• Future trends

• Historical data

• Regression analysis

It is the process of calculating the inventory needed to fulfill future customer orders based on how much product you predict you will sell over a specific period of time.

• Demand forecasting

• Future trends

• Inventory forecasting

The following are the benefits of inventory forecasting EXCEPT.

• Less manual labor

• Less inventory needed on hand

• Market competition