What Is Demand Forecasting?

Demand forecast refers to a detailed analysis of the future market demand changes of the products of the proposed project based on relevant survey data, grasp the inherent laws of demand, and make correct estimates and judgments of its development trends to ensure that the products of the proposed project are on the right track. The variety meets market needs and has strong competitiveness. The demand forecast of the proposed project is the premise and basis of the feasibility study. It is divided into domestic demand forecast and international demand forecast. Demand forecast is based on market survey data. Determine the content of the market survey based on the complexity of the project's products and the characteristics of the project. ^[1]

Demand Forecast

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Demand forecast refers to a detailed analysis of the future market demand changes of the products of the proposed project based on relevant survey data, grasp the inherent laws of demand, and make correct estimates and judgments of its development trends to ensure that the products of the proposed project are on the right track. The variety meets market needs and has strong competitiveness. The demand forecast of the proposed project is the premise and basis of the feasibility study. It is divided into domestic demand forecast and international demand forecast. Demand forecast is based on market survey data. Determine the content of the market survey based on the complexity of the project's products and the characteristics of the project. ^[1]

The purpose is to make full use of the historical data of the past and the past, consider various influence factors in the future, combine the actual situation of the company, and adopt appropriate scientific analysis methods to propose realistic demand goals, so as to customize the order demand plan and guide raw materials or commodities Order. Inventory control. Necessary facilities, such as the development of enterprise logistics.

Demand forecasting gives companies the expected level of demand for their products in the future, and provides a basis for their planning and control decisions. Since the purpose of enterprise production is to provide products or services to society, its production decisions will undoubtedly be greatly affected by demand forecasts. Demand prediction is most closely related to the production and operation activities of enterprises.

The actual demand for corporate products or services is the result of many factors in the market. Among them, some factors can be influenced or even determined by the enterprise, while others are beyond the control of the enterprise. Among many factors, in general, the demand for a product or service depends on the market capacity of the product or service and the market share owned by the enterprise. ^[2]