Sales Forecasting

Paper Summary:

This paper examines sales forecasting techniques in general and sales forecasting techniques for off-highway construction plants in particular, as they apply to the United Kingdom, French and German markets today and over the next 10-year period. The paper presents statistics and graphs to illustrate worker productivity rates and export information.
Outline
Introduction
Statement of the Problem
Purpose of Study
Importance of Study
Scope of Study
Rationale of Study
Overview of Study
Bibliography

From the Paper:

"Accurate sales forecasts can be viewed as a combination of skill and luck. According to Shelley and Wheeler (1991), "Selecting the right model with the right specificity and getting as much information as possible about the market are just two parts of the problem. Since forecasts are, by definition, a look into the future, you must say something about uncertainty" (p. 13). The uncertainty factor represents potential unknowns but managers attempt to make accurate predictions based on what is known in the real world as well as their own professional instincts and intuition. This is not to say, of course, that sales forecasters resort to metaphysical techniques to develop their analysis; it is to say that forecasters should have some idea of what could happen and its probability of occurring. "

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