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Organizational production processes may sometimes not have exact numbers for the raw materials needed for production processes. Therefore, they must engage in forecasting. Question 1.

Organizational production processes may sometimes not have exact numbers for the raw materials needed for production processes. Therefore, they must engage in forecasting.

Question 1. What is forecasting, and why does it matter in production management?

Question 2. Discuss the following two forecasting methods in production management------Simulation and Moving Averages.

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