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1. Trend projection Here data of past sales is used to project future sales. This is the simplest and most straightforward method of demand forecasting. 2. Market research This is based on data from customer surveys. Time and effort is required to prepare and send out surveys and tabulate data. 3. Sales force composite This method uses the experience of the sales team in a company. Feedback from the sales group is used to forecast customer demand. 4. Delphi method Demand forecasting experts from outside the firm are involved in this method. Several rounds of questionnaires are held which are to be responded anonymously until the group of forecasting experts comes to a consensus. 5. Econometric A mathematical formula is created to predict future customer demand. Here, statistical tools and economic theories are combined to estimate the economic variables and to forecast the intended variables.
Where is India’s first cable-stayed rail bridge, the Anji Khad Bridge, located?
Which agribusiness company is planning to invest Rs 300 crore over the next 3-4 years to set up an integrated palm oil complex, including a crude palm o...
What is the maturity period of the bond scheduled to be auctioned for Rs 10,000 crore in the week of October 30 - November 3, 2023?
FIEO has urged the government to extend the interest subvention scheme for how many years?
Who has become the first Indian Women’s cricketer to be named a Wisden Cricketer of the Year?
According to Moody’s,India's GDP has crossed ______ in 2022 and will be the fastest-growing G-20 economy over the next few years, but reform and polic...
RBI has accorded approval to ICICI AMC to acquire 9 . 95 per cent stake in which of the following bank / banks?
Which country has become India’s second biggest Oil Exporter?
Former Chief Minister of _____ and veteran Congress leader and Hemananda Biswal passed away.
The Reserve Bank of India (RBI) recently extended the timeline for implementation of certain provisions of the master directions it issued on issuance o...