Unlike ad-hoc purchasing, the procurement forecasting process follows a structured sequence: sales forecasts and inventory levels are assessed first, then historical consumption patterns and lead times are incorporated, and finally procurement volumes are calculated and aligned with suppliers.
Source: https://en.wikipedia.org/wiki/Demand_forecasting
Tools that match this term
You might also be interested in these terms
Weekly: Top news, industry facts and insights from the world of logistics – free.
Content reviewed and editorially cleared.
Share your knowledge, ask follow-up questions, or add practical insights to this page. Every contribution is moderated before publication.