Order projection is the process of forecasting and planning the quantities of products to be ordered from suppliers. This involves utilizing historical data, statistical models, trend analyses, and external factors such as seasonality, promotions, and special events to estimate the future demand for products. Order projection is crucial to prevent stockouts or excess inventory, in order to optimize stock levels and efficiently meet customer demand. Accurate order projection enables retailers to reduce inventory costs, enhance customer service, and optimize logistical operations. This can be achieved using inventory management systems, demand forecasting software, and data analysis techniques.
