Question

5. What is demand forecasting? Explain the various methods of demand forecasting?

Answer 1

Answer:

Demand Forecasting refers to the process of predicting the future 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.

1.Complete Enumeration Method

2.Sample Survey Method

3.End-use Method

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