Reliable demand forecasts are an essential part of a retail business because, simply put, they reduce uncertainty.
With an accurate calculation of how many items you will sell at any given time, you can order, allocate, and replenish those items accordingly.
Beyond supply chain and inventory management, though, an accurate sales forecast can be used to optimize capacity management, workforce scheduling, planograms, and so much more.
In short, the demand forecast is the foundation from which you can drive a wide range of benefits across retail functions.