What is the purpose of forecasting for size mix ratio?

The purpose of forecasting for size mix ratio is to accurately predict the proportion of different sizes or categories within a given group or population. This is particularly important in industries such as manufacturing, retail, or fashion, where inventory planning and production decisions heavily rely on size or category distribution. By forecasting the size mix ratio, businesses can estimate the demand for various sizes and allocate resources accordingly. This allows them to optimize their inventory levels, minimize stockouts, reduce waste, and ultimately improve customer satisfaction by ensuring the availability of the right size or category products.

This mind map was published on 6 February 2024 and has been viewed 50 times.