Learn Sales Forecasting

Sales Forecasting is the process of using the company’s sales records of the past years to predict the short-term or long-term performance in the future. This is one of the pillars of proper financial planning. As with any prediction-related process, risk and uncertainty are unavoidable in Sales Forecasting too. Hence, it’s considered good practice for forecasting teams to mention the degree of uncertainties in their forecast.

A Sales Territory is the customer demographic or the geographical area assigned for sales activity to either a salesperson or a sales team. In these cases, a sales manager generally assigns the territory among members of the sales team. Often retailers, franchisees and distributors operate under specific territories.
Sales forecasting uses past sales figures to predict the short-term or long-term future performance to enable sound financial planning.[3] For shops and stores, market research may yield the following indicators for deriving initial forecasts:[4]

average sales volume per unit area for similar shops in similar locations of similar size
number of consumers or consumer households in appropriate vicinity of the store and their annual expenses on the product in question

Learn Sales Forecasting covers following content
1. Sales Forecasting - Introduction
2. Factors to Consider
3. Generating Sales Reports
4. Balancing Time and Prospects
5. Common Hurdles
6. Assigning Responsibilities
7. Sales Forecasting - Word of Caution
8. Sales Territory Planning
9. Logistics vs Customer Service
10. Sales Forecasting - Team Selling
11. Ranking of Customers
12. Common Territory Strategies
& Much More


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