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Forecasting Definition and Explanation PDF | Download eBooks

Learn Forecasting definition in supply chain management with explanation to study “What is Forecasting”. Study forecasting explanation with SCM terms to review supply chain management course for online MBA programs.

Forecasting Definition:

Forecasting Explanation:

Firms use forecasting technique by using historical data to forecast the future estimated sales. Further, they forecast to determine the allocation of budget or planning for the allocation of resources. Forecasting is based on the demand that is projected by the goods and services. Also, determine the sales and increasing or reducing the prices of shares in the firm.

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