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Whether management realizes it or not, forecasts are essential because every business decision depends on estimates of the future. Forecasts are needed to decide whether to expand ...
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Designed to deal with sporadic demand (no seasonality) with a two-step process. The main goal is to provide a good safety stock, resulting in a situation where there is neither over or under stock. This is accomplished by considering two aspects of the data: the demand size and the…
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