Error reading forecast parameters for material & in plant & &

What causes this issue?

You wanted to plan a material which requires forecast parameters.
However, the forecast parameters have not yet been defined in the
material master record.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Enter the information required in the forecasting view of the material
master record.
Then carry out the forecast for the material.

Error message extract from SAP system. Copyright SAP SE.