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Could you elucidate the concept of forecasting, providing a practical example to illustrate its application? Subsequently, expound upon the significance of forecasting within the context

Could you elucidate the concept of forecasting, providing a practical example to illustrate its application? Subsequently, expound upon the significance of forecasting within the context of the value chain, elucidating its multifaceted impacts on operational efficiency, strategic planning, and stakeholder value creation."

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