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There are many factors that play their part in maximizing the profit of a business. The retailers and market experts need to pay attention to a few of them like consumer preferences and competitor’s pricing for a product. To survive in market it is important to maximize the inventory turns regularly, say 6 to 8 inventory turns every year. Demand forecast is one of such factors that contribute towards the growth of a business. We will learn in detail the various aspects of demand forecast prepared by our Demand Forecast Assignment Help team. We provide online services for writing assignments for students studying this subject.
Introduction to demand forecast
In the era of economic predators, it is getting difficult to survive as the high tides of moderation and change is wiping the well established businesses. Commerce being one of the major causalities demands certain tactics to survive and flourish. Demand forecast of any product by analyzing the previous stock sales and profits is a key for that. Management requires the brainstorming abilities of their staffs to acquire forecast information in order to establish certain decisions in terms of a company’s market and revenue. Our Demand Forecast Assignment Help experts tell that the value of future sales is important as it also wobbles the cost profits. That makes the prediction of future sales a logical initiative for any business plan.
Types of forecast
There is no certain limited type of forecast as businesses vary in particular. A wide range of classifications has been done keeping in account the parameters like ‘time-span’ and ‘business-level’.
i. Classification of forecast based on Time-Span
ii. Classification based on Business-level
Various methods of demand forecasting
There are various methods to forecast demands of a firm and our Demand Forecast Assignment Help team is efficient enough to deal with any of it. We list the various methods as below:
1. Opinion polling method 10. Complete enumeration survey
2. Statistical method 11. Sample survey and test marketing
3. Consumer survey method 12. End use
4. Sales force opinion method 13. Fitting trend line by observation
5. Experts opinion method 14. Least square linear regression
6. Trend projection method 15. Time series analysis
7. Barometric method 16. Moving average and annual difference
8. Regression method 17. Exponential smoothing
9. Simultaneous equation method
Students having issues and confusions with the above stated methods can directly contact our Demand Forecast Assignment Help team for further assistance. Our 24/7 online executives are available to guide you through the process.
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