All businesses introduce new products for various reasons. New products contribute to more than a quarter sales for the company and thus it’s important to get the forecast right. The new products pose a challenge for the planners and marketing executives to estimate the demand which results in inventory related issues and lost sales for the company.
The primary reason being the lack of historical data that can be used for forecasting.
This webinar address this challenge by discussing factors affecting new product estimation and the strategies which can be used to plan the inventory to maximize the sales.
We will discuss how to forecast accurately by considering cannibalization effect, transition period and current inventory.
While these factors effect is known but other factors related to the market are missed out. The webinar also discusses the technique that can be deployed to help in choosing the right strategy for forecasting depending upon the various factors.
What you will learn:
At the end of the webinar, you will learn about different forecasting strategies which can be applied depending upon the situation
Duration: 60 mins