Q: What best describes the goal of collecting data on the best-selling product of the month to place new orders with your supplier?
or
Q: Which best sums up the objective of gathering information on the month’s top-selling product to make fresh orders with your supplier?
- To reduce product prices
- To provide a team-building experience for the company
- To better understand team performance
- To better understand user preferences and performance
Explanation: Demand forecasting is the primary objective of the process of gathering information on the product that has been selling the best for the month to place fresh orders with your supplier. To ensure that you can effectively satisfy the demands of your customers and stock up on popular goods, you will need to analyze the sales data to make predictions about future demand patterns. This kind of inventory management is a strategic strategy that is based on insights that are generated by data.
