answersLogoWhite

0


Best Answer

Sales Forecasting is the process of estimating what your business's sales are going to be in the future.

Sales forecasting is an integral part of business management. Without a solid idea of what your future sales are going to be, you can't manage your inventory or your cash flow or plan for growth. The purpose of sales forecasting is to provide information that you can use to make intelligent business decisions.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is meant by sales forecasting?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Discuss the shortcomings of the percent of sales method of financial forecasting?

The percent of sales method of forecasting needs to based on a series of assumptions, and the forecasting would heavily relay on the percent of sales as the key tool for forecasting. Furthermore, the percentage of sales for the next period cannot prevent the forecasting result from the expectations of the investors.


How do you do journal entry for Forecasting Sales?

There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.


What has the author Lee Gunlogson written?

Lee Gunlogson has written: 'Sales forecasting' -- subject(s): Sales forecasting


Relationship between market demand market potential and sales forecasting?

demand forecasting is crucial for sales forecast


What is sales quotas?

sales quota as mean of sale forecasting


How managerial economist help for sales forecasting?

sales forecast


What has the author Michael Geurts written?

Michael Geurts has written: 'Forecasting sales' -- subject(s): Sales forecasting, Mathematical models


What has the author Thomas Frederick Dodd written?

Thomas Frederick Dodd has written: 'Sales forecasting' -- subject(s): Sales forecasting


Where could one go to learn about sales forecasting?

There is a website that has seven tips for improving your sales forecasting, however, a better option would be an online company called Your Training Edge run course to teach you about sales forecasting.


What is the difference in business intelligence from sales forecasting?

Sales forecasting is using business intelligence to develop a strategy for budgets. Business intelligence is the data used to get the sales forecast.


What is sales forecasting explain scope and significance of sales forecasting?

How do I start to plan a sales forcast for a day care business plan for an entrepenuer class I am taking in college?


Mention the method of sales forecasting?

There are many methods of sales forecasting. One method is to look at what has happened in the past and based on that, predict the future.