Forecasting Need
The process of forecasting need (or demand planning) is a means
to improve the general effectiveness of an organization. In particular, forecasting need
is designed to allow an organization to:
- schedule resources (such as production facililities, means of
transportation, available capital, and personnel) more efficiently.
- acquire resources (such as raw materials, machines, and employees)
in a timely fashion.
- determine resource requirements in advance.