Determining Prospects Through Planning and Forecasting of Industrial Products

Abstract

Good public administration outcomes come from having professional civil servants. This article highlights the importance and necessity of planning and forecasting in supplying the market with industrial products under modern market economy conditions. In particular, planning is explained as a process of systematically organizing production in the industrial sector, maintaining the stability of enterprises in the market, efficiently utilizing resources based on a plan, and systematically carrying out the stages of product delivery to consumers. Forecasting, on the other hand, is analyzed as a means of making alternative decisions regarding the stability of enterprises and prospects for new product development based on the general state of the industrial sector. It also reveals potential risks and opportunities that may arise in the future. Additionally, planning and forecasting contribute to the improvement of both the quality and quantity of manufactured products, thereby increasing the overall efficiency of enterprises. This, in turn, leads to an increase in the share of the industrial sector in the national economy. Furthermore, the article presents conclusions and proposals on effectively implementing enterprise activities and determining the prospects for industrial development.