i is also referred to as sales forecasting as it involves anticipating the future sales igures of an organisation. nand Forecasting Definition Some of the popular definitions of demand forecasting are as follows: Demand estimation (forecasting) may be defined as a process of finding values for demand in future time periods. Evan J. Douglas Demand forecasting is an estimate of sales during a specified future period based on marketing plan and a set of particular uncontrollable and competitive forces. Cundiff and Still se. er internally by making estimat ised consultants or market resear € out what a company wants to do tion might decide that it want far as it can go in its cu roup of customers, su