Accurate sales forecasting improves decision-making for production, scheduling, logistics, marketing and financial processes. An understanding of the future of the marketplace and an accurate perspective on future sales activity creates competitive advantage. Organizations should continuously update and monitor the accuracy of their sales and revenue forecast against actual activity patterns. This sample sales forecasting process can be used as a general guide to help with understanding and reviewing a company's sales forecasting procedures.
This document should be used as a general guide to understand and review this business process. Organizations should customize this tool to ensure that it reflects their business operations and continuously monitor the process to ensure that the steps described are accurate.