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Sales Forecasting Course - 1 day Introduction to Forecasting

Overview

This one-day forecasting course provides a sound introduction to sales forecasting. It explains the alternative approaches to forecasting including judgemental forecasting, causal modelling and time series projection. The training covers the important subject of seasonal analysis, then details a number of the most popular and useful sales forecasting methods. This introductory course is backed up with worked examples in Excel, but is geared to be beneficial regardless of what software is to be used.

Who should attend:

This sales forecasting course is an ideal introduction for anyone wishing to gain a background understanding of methods for sales forecasting and get hands-on with a selection of the most effective methods. It is attended by managers and technicians with a wide range of job roles including forecasting, demand planning, sales and marketing, operations and supply chain. Delegates have come from a wide range of industries spanning consumer goods, pharmaceuticals, high tech, financial services and industrial sectors.

Prices

For prices please complete a quotation request form giving the course(s) of interest and the expected number of delegates.

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.