This is a topic on forecasting. How easy will business life be if we had an accurate forecast of the business demands ahead of time? We don’t have this, but we can get some information relating to expected demand, and plan around it.
As you know there are forecasting tools out there, but which one to use, should you deem it necessary? There is no one answer for this, but there are definitely good options to choose from, depending on your product mix, business size, data support infrastructure, data history.
Demand planning is also not just about a forecasting tool. There is a process that goes with it called a S&OP process. Sale & Operations Planning. This is a management process that involves using your key senior management to make business decision around supply & demand, using the correct planning tools. If you are not performing this process, or something similar in your business, then you have lots of untapped business potential waiting for you.