Demand forecasting for fertilizer marketing
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Almost every decision a manager takes needs a forecast. If he has an idea of what will happen in the future, he can make appropriate management decisions. He also needs to assess the effect of his present decisions on the future so that the right decisions are made today to create a desired condition tomorrow. Fertilizer is capital intensive and, therefore, cost sensitive. If we know what fertilizer types are likely to be demanded, where and when, we can improve the quality of decisions concerni ng production, procurement, placement and promotion. Consequently, we can minimise funds tied up in inventories, save interest costs, conserve foreign exchange, avoid running out of stock and, generally, increase sales and improve profits.