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Demand forecasting and management practices: In fast moving consumer goods companies operating in unstable economiesThe case of,Used
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The study investigates the determination and analysis of demand forecasting and management practices in fast moving consumer goods companies operating in unstable economies in the case of Zimbabwe. Experimental and descriptive research designs which make up the quantitative research design were adopted. In this study, questionnaires were used as data collection tools. Organisations in the manufacturing sector appreciate the role of demand forecasting and that their operations are demand driven and a few companies operating are capacity driven.For those organisations which are demand driven to estimate demand, there is a need to quantitatively estimate the impact of demand from various marketing, merchandizing, and sales activities. The benefits of demand forecasting were found to be proper production planning and setting up of volume targets while political interference, lack of proper technology and market volatility are the challenges that are faced in coming up with demand forecasts. These challenges can be reduced by frequent forecasting, short run forecasting and engaging customers in forecasting.
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