razashan/Food-Demand-Forecasting

Demand Forecasting is a process by which an individual or entity predicts the how much the consumer or customer would be willing to buy the product or use the service. Without Proper Demand forecasting it becomes impossible for any business to function. Improper Demand forecasting. would result in heavy loss. Different industry or company has different methods to predict the demands. In case of food industry, it is at most important that the demand needs to be on bulls’ eye since the food materials gets perished easily and has the fixed time frame to be used. So, the daily and weekly demand needs to be precise to avoid wastage which would otherwise increase the operating cost.