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Charge reports that covers the essay contests for money 2014 polk county location are individually compiled by the georgia crime examiner. My salesman looks out of the window and gives me the sales forecast for the next year said one senior manager. What happened in the past is relevant to what is happening now and what could happen in the future. Forecastingâ is defined as the process of making statements about those events whose actual outcomes are not yet been observed. A common example might beâ the estimationâ of some variable of interest at some specified future date.â predictionâ is similar. Both might refer to the formal statistical methods employing â the time series ,â cross sectionalâ orâ longitudinalâ data and alternatively to less formal judgemental methods. The terms forecast and forecasting are sometimes reserved for the estimation of the values at certain specificâ futureâ times.

Sales forecasting is estimating what a company's future sales would likely to be. Information used for the sales forecasting must be well organized and it may include information on the competition and the statistics that affect the businesses customer base. Sales forecast should be conducted regularly and all the forecasting results need to be measured. Sales or other managers should determine that how far should the forecast be done. Short term forecasting is maximum of three months and is often effective for analyzing the budgets and the markets. Intermediate sales forecasting is between the period of three months and two years and may be used for the schedules ,â inventory and production. Long term forecasting is for a minimum of two years and can be used for long term forecast period and is good for dealing with the growth into new markets or new products.

Basically sales forecasting is analyzing all the parts of a business from the total inventory to the strengths and weaknesses of sales people. Managers must think about the changes in the customer sales or other changes that could affect the forecasting figures. They must be competitive when they are assessing the competition and how they can surpass the competition to meet the needs of the target market better. Importance of sales forcasting sales forecasting is the basis of all the business activities. The future direction of the company depends on the sales forecasting.â salesâ are the lifeblood of the business.â it's what helps you pay employees.

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Sales forecasting is a crucial part of theâ financial planningâ of the business. It's a self assessment tool that uses the past and the current sales statistics to intelligently predict the future performance. Almost all the new businesses need loans or start up capital to purchase everything necessary to get off the ground office space. Overstocking and the under stocking of materials can be maintained by a good inventory control. Producer is able to adjust his production schedules and avoid idle time which leads to efficiency. Supply and demand of the products can be easily adjusted.â this essay has been submitted to us by a student. Sales forecasting on the basis of past many businesses prepare their sales forecast on the basis of their past sales.