Image description


Sales Forecasting

Overview
This module is designed to give you a structured approach when carrying out your own sales predictions for your organisation. A framework is designed which gives you practical advice on how to arrive at that figure, as well as research guidance. There is also a framework to help you assess your individual sales achievements. Any problems can then be identified and worked on, the aim being to improve your future sales performance.


Introduction
In the highly competitive economic environment that your organisation operates in, it is vital for you to be a successful sales person. The key factor in this is your ability to manage yourself effectively. This is despite the fact that you will probably be a member of a number of teams and that you will report to a line manager or supervisor. Bear in mind that much of your selling activity will involve working on your own and using your own initiative. This is why your ability to manage yourself is so important. Of principal importance is your ability to achieve your sales objectives. Be aware that all organisational success stems from the achievement of these objectives. In this respect you should see yourself as a tangible asset of your organisation, generating revenue for it via the orders you gain from your customers.

One important ingredient in determining your sales objectives is how well you have sold in the past and your selling expectations for the future e.g. previous selling success might result in you being given stiffer objectives to achieve in the future. Equally, a downturn in the economy might cause you to believe that you would sell less. As a consequence, your sales objectives might be downscaled as well. The principal point here is the importance of your sales forecast.

An inability to properly forecast your sales may result in over stocking, if actual sales are less than those expected. However, if you underestimate your sales you will be unable to meet customer needs. In addition, costs will be incurred and revenue will be lost. Effective forecasting will ensure that appropriate stock levels are available, staffing levels effective, costs minimised and revenue maximised.

Achieving your sales objectives is your prime concern. To ensure their achievement you will need to continually check and assess how well you are selling i.e. you will need to appraise yourself. In this context appraisal refers to every aspect of your selling activity e.g. administration, communication, information gathering. Appraisal will obviously involve other people in your organisation e.g. your sales manager. However, much of the appraisal will be carried out by you i.e. it will be self-appraisal. This ability to self-appraise is a major part of managing yourself .


Download links

Please see below for the learning materials. To download them simply click on the unit you wish to download. You must have Adobe Reader installed to be able to view and read these documents however. Click here to be directed to their webpage where you can install the free software.


Overview - Sales forecasting and appraisal
This module is designed to give you a structured approach when carrying out your own sales predictions for your organisation. A framework is designed which gives you practical advice on how to arrive at that figure, as well as research guidance. There is also a framework to help you assess your individual sales achievements. Any problems can then be identified and worked on, the aim being to improve your future sales performance.
Unit 1: Individual sales forecasting
A framework is designed to help you forecast what your sales will be over a given period. The unit gives guidelines on researching the relevant sources of information enabling you to arrive at an accurate figure. The unit will also enable you to have a better understanding of the market environment that you work in.
Unit 2: Individual sales appraisal
A framework is designed to help you appraise your own individual sales achievements. It will also help you become more fully involved in the appraisal process. The outcome should help to motivate and develop you in a proper, thorough and well thought-out appraisal framework. This will lead to increased staff retention and improved sales achievements in your organisation.