Give some examples of companies that you use frequently.1. Short-range forecasts2. Long-range forecasts

Examples of Companies Used Frequently

1. Short-range Forecasts

   • Walmart: This retail giant often uses short-range forecasting to manage its inventory levels and ensure that products are available in stores to meet customer demand. By analyzing sales trends and seasonal patterns, Walmart can adjust its stock in real time.
   • Amazon: Amazon employs short-range forecasting to optimize its delivery schedules and stock levels, ensuring products remain in high availability during peak shopping times.
   • FedEx: In logistics, FedEx uses short-range forecasts to predict shipping demands and enhance operational efficiency, ensuring timely deliveries.

2. Long-range Forecasts

   • Apple: Apple engages in long-range forecasting to plan product launches and innovations, analyzing market trends and consumer behaviors over several years to ensure it stays ahead in the technology sector.
   • General Motors: GM utilizes long-range forecasts for strategic planning of new vehicle designs and production capacity, helping to align with future market needs and regulatory requirements.
   • Procter & Gamble: P&G applies long-range forecasting to anticipate consumer trends in health and hygiene products, enabling them to develop strategies for product lines years in advance.

These companies utilize forecasting to adapt to market demands, improve efficiency, and strategically plan future initiatives.