2.2.1 Sales forecasting Flashcards
1
Q
Purpose of sales forecasts
A
A prediction of future sales volume and revenue, often based on previous sales data or market research.
2
Q
Benefits of sales forecasting
A
- inform cashflow
- To plan stock levels
- to plan staffing levels
- to plan promotional strategies & decide when they are necessary
- to plan long term strategy including capacity
- to ensure funding is in place
3
Q
Factors affecting sales forecasts
A
Trends:Consumer trends
seasonal variation
long term trends
economics factor: econonimc growth
interest rates, inflation , unemployement, exchange rates
