Forecasting is necessary in order to build an accurate procurement plan; however, a forecast is only as good as the accuracy and completeness of the data used to create it.
Sales may either over or understate their true performance, which inevitably effects future planning.
Why do it?
Sales Planning
When you do your forecasts, you are also planning future activities, providing each of you with your own business plan for managing your territory. You all have budgets to achieve forecasting is the tool that will help you identify the customer’s ongoing requirements and how we can help meet their objectives.
Demand Forecasting
The sales forecast is your best tool to get a good estimate of the demand for the products you sell. You are the front line of our business and best positioned to gather information about anticipated demand.
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