Describe any four major reasons to do demand forecasting.

Demand forecasting is a critical practice for businesses to estimate future customer demand for their products or services. Here are four major reasons why demand forecasting is essential:

1. Production Planning and Inventory Management:
   • Optimizing Production Levels: Demand forecasting helps in planning production levels to meet future customer demand effectively. It ensures that production is neither excessive nor insufficient, avoiding overstocking or ___ _______ __________ _________ ______ _________ ________ _____.
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