What are the Consequences of Inaccurate Forecasting?
Inaccurate forecasting can have severe implications for a business:
Inventory Issues: Overestimating demand can lead to overstocking, while underestimating can result in shortages. Financial Strain: Poor forecasting can lead to cash flow problems and misallocated budgets. Strategic Missteps: Misguided business strategies based on inaccurate forecasts can derail long-term goals. Customer Dissatisfaction: Inability to meet customer demand on time can harm the company's reputation.