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Sales Forecasting Course - Introductory Training

Overview

This one day sales forecasting course provides a sound introduction to forecasting. It explains the alternative approaches to sales forecasting - judgemental forecasting, causal modelling and time series projection. It covers the important subject of seasonal analysis, then details a number of the most useful time series forecasting methods. Sales forecasting for new products and promotions is included. Material for this sales forecasting training is backed up with worked examples in Excel, but is geared to be beneficial regardless of any specialist software that the company may be using.

Who should attend:

This introductory sales forecasting training is ideal for anyone wishing to gain a good background understanding of methods for sales forecasting and who wishes to get hands-on with a selection of the most popular methods. It is attended by managers and technicians with a wide range of job roles from demand planning, marketing, operations and supply chain departments, to name just a few. Delegates have come from a wide range of industries spanning consumer goods, pharmaceuticals, high tech, financial sevices and industrial sectors.

Prices

For prices please complete a quotation request form giving the course(s) of interest and the expected number of delegates. Alternatively, feel free to email us at training@forecastsolutions.co.uk

Learning Outcomes:

Appreciation of the alternative approaches that may be useful for sales forecasting.
Understanding of the need for the best possible seasonal analysis and some practical ways of dealing with seasonality.
Insights into the challenges of forecasting for new products and promotions.
Detailed knowledge of a number of the most useful forecasting methods.

Typical Course Content:

The purpose of forecasting, short-term and medium term. Alternative approaches to sales forecasting including subjective methods, causal analysis and time series projection.
The importance of a good seasonal analysis. Different ways of dealing with seasonality. Example of a simple way to calculate a set of seasonal indices and make use of this in forecasting.
Curve fitting as a way of projecting the sales trend. This covers straight line fitting plus a number of other types of curve.
Time series forecasting starting with simple moving average as a basic method of sales forecasting.
Introduction to exponential smoothing including worked example of some simple forms of this family of methods.
Forecasting for new products and some practical ways of dealing with this difficult subject.
Discussion around sales forecasting for promotions and some methods for dealing with them. The need to cleanse historical data prior to statistical forecasting.
Outline of the six steps that can often form the basis for a successful sales forecasting process. Discussion of forecasting process as applicable to the specific company.