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Forecasting

Forecasting

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Published by apoorva10nov

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Published by: apoorva10nov on Jun 20, 2010
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05/04/2011

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FORECASTINGFORECASTING
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3-2
FORECAST
:
 A statement about the future value of avariable of interest such as demand.
Forecasting is the process of estimatingunknown situation
Forecasting is used to make
informed 
decisions.
L
ong-range
Short-range
 
O
bjectives
O
bjectives
To plan for material requirement
To plan for product requirement
To plan for research and development
To determine budgetary control
To determine schedule of operation
To find the working capital needed
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