Forecasting in operations management is the process of making predictions of the future based on past and present data. It is used to estimate earnings or other data for subsequent periods in finance. Demand forecasting often uses information about past demand to identify patterns that can help predict future demand. It reduces risk and uncertainty in planning operations.
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Operations Management
Forecasting
₱600
Forecasting is the determination of the demand for goods and services and determine the optimum inventory of materials and goods.
