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– Nelson Mandela

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Q Question 2: Discuss several demand forecasting issues and possible ways of reducing the negative impacts associated with those issues?

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The several issues relating to forecasting of demand are listed below: 1. There will be no sell in case forecasting of demand isn’t seriously taken prior to the product launch. If only forecasting in a small fraction shall be done and the needed sales won’t occur. 2. Forecasting of demand is reliant on probability and prediction. It is sometimes hard to speak what can click to the consumers due to the ever-changing market dimensions. 3. The two kinds of defects in forecasting are under estimation and over estimation.