Finally, a decision criterion (Forecasting Model) is proposed using three primary forecasting techniques with minimum error calculations. Both these analyses set a solid foundation for the formulation of a comparative analysis matrix based upon price and quantity based analysis of inventory. The paper presents a statistical analysis of historical data and a comprehensive fault trend analysis. The proposed framework is based on a case study of one of Pakistan’s leading Technical Services Organization. Owing to the significance of inventory control and analysis, this paper reports on developing and successfully implementing a hybrid framework for optimum level inventory forecasting in Technical Services Organizations. Therefore, an organization ought to make the correct and timely decisions based on precise demand information to avoid excessive inventory accumulation resulting in enhanced competitive advantage. The two most pressing concerns to handle in inventory management are: how much to order and when to order. To cope with erratic demands, organizations have to maintain excessive inventory levels, sometimes taking up to one-third of an organization’s annual budget. Inherent uncertainties in demand and supply make it problematic for supply chains to accomplish optimum inventory replenishment, resulting in loss of sales or keeping excessive inventories.
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