TAILIEUCHUNG - THE SALES FORECASTING TECHNIQUES: MARTINOVIC Jelena, (SCG) - DAMNJANOVIC Vesna, (SCG)

You need to take advantage of any opportunity you have to gain commitment from your guest. You do not want to let the opportunity to close a sale pass you by. Closing too soon rather than too late allows you to get a peek at the person’s intentions or to gauge their interest level. By using assumptive statements and mini-commitment questions, you will be able to read your prospect better, and customize your tour and presentation to match their mood and buying habits. | INTERNATIONAL SCIENTIFIC DA YS 2006 Competitivness in the EU - Challenge for the V4 countries Faculty of Economic and Management SA U in Nitra Nitra May 17-18 2006 THE SALES FORECASTING TECHNIQUES MARTINOVIC Jelena SCG - DAMNJANOVIC Vesna SCG ABSTRACT Many sales managers do not recognize that sales forecasting is their responsibility. In this paper we summarized techniques that manager used into two types qualitative and quantitative techniques. We also discuss the use of computer software in sales forecasting in Serbia. KEY WORDS sales forecasting quantitative and qualitative techniques INTRODUCTION Forecasting activity should help managers to make better decisions in the process of planning the business strategy. The purpose of planning process is to allocate company resources in a manner to achieve anticipated sales. A company can forecast sales either by forecasting market sales called market forecasting and determining what share of this will accrue to the company or by forecasting the company s sales directly. In this paper we explain techniques for sales forecasting. There are different periods when we need to predict some results. 1. Short term forecasts - there are usually for periods up to three months ahead and are really of use for tactical matters such as production planning. The general trends of sales is less important here then short term fluctuations 2. Medium term forecasts - these have direct implication for planners. They are of most importance in the area of business budgeting the starting point for which is sales forecast. Thus if the sales is incorrect then the entire budget is incorrect. 3. Long term forecasts - these are usually for periods of three years and upwards depending upon the type of industry being considered. For computer industry is a long period but for some other industry such as steel manufacture ten years is a typical long term horizon. Such forecasts are needed mainly by finance accountants for long time resource .

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