Demand Forecasting Leveraging AI and machine learning algorithms to predict future demand for products with higher accuracy than traditional methods. How? Gather historical sales data, market trends, seasonality, and potentially external factors like weather patterns. Utilize machine learning algorithms (e.g., time series forecasting, regression) and refine models over time. Benefits: Reduced inventory costs, improved production planning, minimized stockouts, increased customer satisfaction. Pitfalls/Risks: Data quality issues, over-reliance on historical data, unexpected market shifts, potential for bias…