Technical Guide on "Demand Forecasting" [Feb-2022]

Technical Guide on "Demand Forecasting" [Feb-2022]
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303.25 kB
Date:
25 February 2022
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Demand forecasting is the process of using predictive analysis of past data to estimate and determine the future demand of the product or service. Demand analysis assists the business to take better decisions regarding the sales , inventory and production.

It plays a major role in productivity improvement and production planning by analyzing the historical data and facilitate while making decisions regarding the production , procurement , human resource and capital requirement.

It is not based on mere prediction or guessing but is backed by past trends , historical data and evidence.

 
 
 
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