Demand Forecasting

Demand Forecasting refers to the method of predicting the longer term demand for the firm’s product. In other words, demand forecasting is comprised of a series of steps that involves the anticipation of demand for a product in future under both controllable and non-controllable factors.The business world is characterized by risk and uncertainty, and most of the business decisions are taken under this scenario. a corporation encounter several risks, both internal or external to the business operations like technology, attrition, unrest, employee grievances, recession, inflation, modifications within the government laws, etc. Statistical Demand Forecasting Methods: Demand Forecasting refers to the method of predicting the longer term demand for the firm’s product. In other words, demand forecasting is comprised of a series of steps that involves the anticipation of demand for a product in future under both controllable and non-controllable factors.The business world is characterized by ...