This unit aims to develop knowledge and understanding of forecasting sales and setting sales targets for your own area of responsibility and includes how to collect and use information to develop a sales forecast, based on past and present sales data, factors which influence sales, sales trends, market conditions and product and service developments within your organisation.
- Understand the impact of sales forecasting on organisational planning
- Understand factors that may affect sales trends
- Understand qualitative and quantitative techniques for forecasting sales
- Understand the importance of monitoring actual sales against forecast sales
- Understand budgeting methods