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Many times, this unique approach is used not only to provide a baseline, but also to offer a prediction into the corporation's future. In the functional areas of finance and accounting, forecasts provide the basis for budgetary planning and cost control. Marketing relies on sales forecasting to plan new products, compensate sales personnel, and make other key decisions. Production and operations personnel use forecasts to make periodic decisions involving process selection, capacity planning, and facility layout, as well as for continual decisions about production planning, scheduling, and inventory...
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Common topics in this essay:
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