- consumers may not be aware of actual demand in future
- answers from consumers are not real
- consumer response are biased
- plan of consumers change with time
Demand forecasting in Human Resource planning is influenced by several key factors, including organizational goals, market trends, and workforce demographics. Economic conditions can also play a critical role, as shifts in the labor market or industry demand impact hiring needs. Additionally, technological advancements and changes in business processes may alter the skills required, affecting the demand for specific roles. Lastly, seasonal fluctuations and legislative changes can further complicate demand forecasting efforts.
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The two different sections of manpower forecasting are the manpower demand forecasting and the manpower supply forecasting. These techniques are used to regulate the supply and demand balance.
The 5 factors that affect the demand of fast moving consumer good include the price, quality, availability, competition and the use of the products. There are many other factors that affect the demand for such commodities
Macro forecasting is related to forecasting external forces that affect the firm. This is concerned with forecasting the markets and determining market demand, supplies and other external factors such as legal, cultural, economic and technological environmentsMicro forecasting is concerned with forecasting internal environments such as sales forecasts, market share and product life cycles. These can be described as factors which firm has control over or able to acquire information to forecast what will happen. For example, a company can check its sales records to forecast next months' sales
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The chief variables in demand forecasting include historical sales data, market trends, consumer preferences, economic conditions, seasonality, and competitive factors. These variables help businesses predict future demand for their products or services accurately.
demand
The two different sections of manpower forecasting are the manpower demand forecasting and the manpower supply forecasting. These techniques are used to regulate the supply and demand balance.
The 5 factors that affect the demand of fast moving consumer good include the price, quality, availability, competition and the use of the products. There are many other factors that affect the demand for such commodities
Demand Forecasting Is the estimation of total and maximum quantity needed by the consumers in the market at future time. It must not be higher or lower than the balanced demand. TYPES; qualitative and quantitative demand forecasting.
demand forecasting is crucial for sales forecast
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What factors usually affect pricing?
By doing the factors..