Many companies still fail to keep a track of their inventories by product type, consumer sentiment and cost due to lack of necessary tools. This leads to their inability to forecast demand which results in unwanted expense in managing the out of sync inventories. It would not be surprising to know the result of a survey conducted in 2011 that 57% of 500 companies wanted to reduce their inventory carrying costs.  This creates a strong need for every company to manage their inventory effectively.
What is Inventory Management?
What is Predictive Analytics?
How predictive analytics can improvise inventory management?
According to a survey , approximately 73 percent of the executives who participated in the survey indicated that supply chain analytics tools were helping them meet their company goals. Around 71 percent of them believed that the there is more potential in analytics tools. They can go beyond providing information about prior performance and give more predictive features.