8. Reduce Inventory Costs
Forecasting helps predict how much inventory should be on hand at any given time. By having the right amount of inventory, your company will be able to save on warehouse and transportation costs. There will also be less risk of incurring obsolescence costs or having to discount products because you have a large surplus.
Having the correct amount of inventory on hand is very important for every winery. White wine can only be kept on the shelf for a couple of years. That is why it is extremely important to make sure there is not a large surplus of product.