Demand Forecasting: Meaning, Importance, Types, Techniques & Methods
Meaning of Demand Forecasting
Demand forecasting means estimating how much of a product or service customers are likely to buy in the future. It is based on factors such as past sales, customer preferences, market trends, economic conditions, and business conditions.
In simple words, demand forecasting helps a business answer the question: “How much will customers need in the...
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