Sales forecasting

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Sales forecasting

  1. 1. Presented By:Philomen PremMayur GuptaSanjeev KumarJayesh RautPawan SharmaKhandu Chaudhari Presented To:Rahul Pawar Mr.Nimish Deshpande SirSwapnil Rathore 1
  2. 2. A systematic attempt to probe future with the help ofknown facts. It is the “analysis and interpretation of thefuture conditions in relation to operations of enterprise.Marketers argue about whether its a science or an art.The short answer is that it is a bit of both. 2
  3. 3. Defining the objectives to be achieved. And Dividing various products into homogenous groups. Analyzing the importance of various factors to be studied for sales forecasting. Selecting the methods. Collecting and analyzing the related information. Drawing conclusions from the analysis made. Implementing the decisions taken.Reviewing and revising the sales forecasting from time to time. 3
  4. 4. Survey methods:Based on the opinion of Expert opinion: buyers & consumers. A company invites the opinions of executives and consultants who acknowledged experts in studying sales trends. 4
  5. 5. Market test methods: Sales force opinion: Its used for the changing Estimates the buyers consumer behavior intention from experiencedprices,advertising,expenditure etc personnel in the sales force. 5
  6. 6. An essential element of It means estimating future planning. sales on a systematic basis. Significance of Forecasting Has assumed great importance in the modern business world whichAlmost every business is characterized by growingexecutive makes sales competition, rapidity of changes forecasting. in environment, fast technological changes and increased government control. 6
  7. 7. For reducing the area of uncertainty that surrounds management decision- making with respect to cost, production, profits, pricing, etc. Making and reviewing on a continuous basisFor effective planning by will compel theproviding a scientific and managers to think reliable basis for Advantages ahead and to search anticipating future operations for the best possible decisions with a dynamic approach. For efficient managerial control as Forecast of sales a must in order to control the costs of production and the productivity of personnel 7
  8. 8. Managers often neglect to examine whether the forecasts are supported by reliable information. Managers must use theirAll forecasts are subject knowledge, experienceto a degree of error and and availablethey can never be made information with a greatwith a hundred percent degree of skill and take accuracy. care to make forecasts more dependable. LIMITATIONS 8
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  11. 11. • References:• http://www.ehow.com/list_5986362_advantages-sales- forecasting.html• http://managementinnovations.wordpress.com/2008/12/11 /methods-of-sales-forecasting/• http://wiki.answers.com/Q/What_are_the_steps_involved_i n_sales_forecasting• http://www.smallbusiness.wa.gov.au/sales-forecast/ 11
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