Glossary
What is Demand Forecasting?
Last updated July 2026
Definition
Demand forecasting predicts future demand to guide stocking and replenishment. AI-driven forecasting can cut forecasting error by up to 50%.
Better forecasts mean less safety stock for the same service level — directly reducing carrying cost and excess.
Even 'unforecastable' industrial spares benefit: intermittent-demand methods and consumption signals beat static reorder points.
Benchmark
AI can reduce forecasting error up to 50% (Epicor/MDM).
Sources: Epicor / MDM
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