Takeaways
- Accurate demand forecasting is crucial for retail success.
- Food waste is a significant issue, with one-third of food produced wasted.
- The FRESH framework focuses on food waste reduction and hunger curtailment.
- Dynamic pricing can help manage inventory and reduce waste.
- Retailers need to incorporate external data for better forecasting accuracy.
- Promotions and events significantly impact demand forecasting.
- Technology is transforming demand forecasting through AI (artificial intelligence) and machine learning.
- Retailers must adapt to changing consumer preferences and trends.
- Evaluating demand-forecasting solutions requires understanding market potential and innovation.
Chapters
00:00 The Importance of Demand Forecasting
07:03 The Fresh Framework for Food Waste Reduction
13:50 Advancements in Demand-Forecasting Technology
19:51 Evaluating Demand-Forecasting Solutions
