Probabilistic Demand Forecasting: Revolutionizing Supply Chains

Probabilistic Demand Forecasting: Revolutionizing Supply Chains

At ToolsGroup, we’ve long championed probabilistic demand forecasting (also known as stochastic forecasting) as the cornerstone of effective supply chain management software. This advanced approach transforms demand planning from merely “good” to truly “exceptional,” providing businesses with a competitive edge in today’s volatile markets. The Limitations of Traditional Single-Number Forecasting There are fundamentally two approaches to predicti…