Everything you need to know about the methods of sales forecasting. A business enterprise may be either for production of goods to be sold in the market or for distribution of goods supplied by industry. Whether it is a manufacturing company or it is a trading company, in both the cases, forecasting future demand is the first step in planning [...]
Sales forecasting techniques may be categorized as follows:- 1. Historic Estimate 2. Sales Force Estimate 3. Trend Line (or Time Series Analysis) Technique 4. Market Survey 5. Delphi Method 6. Judgmental Techniques 7. Prior Knowledge 8. Forecasting by Past Average 9. Forecasting from Last Period's Sales 10. Forecasting by Moving Average and Few Others. Technique # 1. Historic Estimate: This [...]
After reading this article you will learn about:- 1. Meaning of Sales Forecasting 2. Importance of Sales Forecasting 3. Factors Considered 4. Types 5. Methods 6. Elements 7. Procedure 8. Selection 9. Uses 10. Statistical Data 11. Applications. Meaning of Sales Forecasting: Any forecast can be termed as an indicator of what is likely to happen in a specified future [...]