Purchase Forecasting is a process used by businesses to anticipate and plan for product purchases in the future. It involves assessing the current trends and identifying upcoming events that could affect demand for certain products or services. By anticipating customer needs, companies can adjust their production, purchasing, and inventory levels accordingly. With accurate forecasting, businesses can avoid costly overstocking or under-stocking, both of which can result in missed opportunities and lost sales. Purchase forecasting is an essential part of effective supply chain management and helps businesses maintain a healthy balance between customer service, cost savings, and profit margins.