Demand forecasting results in an estimate of future demand and gives an organization a basis for planning and making sound business decisions. Since the future is unknown, it is expected that some errors between a forecast and actual demand will exist, so the goal of a good forecasting technique would be to minimize the difference between the forecast and the actual demand. Articulate the difference in short and long-term forecasts, forecasting techniques, and the benefits and challenges of each technique. Finally, create a forecast for a situation with which you are familiar (personal or professional) explaining the situation and why you chose the method of forecasting that you did.
writing standards and APA style guidelines.
Be sure to support your statements with logic and argument, citing all sources referenced
Write 4 paragraph essays (Introduction, body and conclusion)
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