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Running head: FORECASTING1ForecastingNameInstitutionDate
FORECASTING2ForecastingThe enhancement of the accuracy of forecasting at Nestlé Company is the cause of thereduction in the cost of inventory through eradication of human judgment and using ‘demandshaping’ to predict future demand. Business organizations have become more global withextended lead times that translates to effective practice in lean management that has beenrendered intricate through demand volatility. The applicable technology in this case entailssensing the demand signals instead of seasonality and trend (Freddie, 2020). This leads toautomatic notification to the business about the demand signals that influence the purchasing ofproducts by the consumers down and up the hierarchy.It also automatically measures the priceand advertisement effects thus giving room for demand shaping down and up the hierarchy aswell as running the ‘what if’ situations.

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Term
Fall
Professor
NoProfessor
Tags
Forecasting, Freddie

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