Sales forecast

Definition: What is a sales forecast?

A sales forecast refers to predicting future sales volumes of a specific product. As a rule, such a forecast is made based on historical data, market trends and other factors. It helps a company to production planning, Optimizing supply chains, managing inventory, developing sales strategies, and ensuring financial stability.

Calculating sales forecasts: methods and procedures

A sales forecast can be calculated in various ways, depending on the available data and the desired accuracy. Common methods include Time series analysis, regression models, and machine learning. Historical sales data, seasonal patterns, and external factors are taken into account.

In order to create a sales forecast, relevant data should first be collected and analyzed. Then become statistical or AI models used to estimate future sales figures.

Sales forecasting with AI: advantages and potential

In recent years, the Calculation of sales forecasts significantly improved through the use of artificial intelligence (AI). AI-based forecasts such as sales forecasting AI use advanced algorithms and machine learning models to analyze extensive amounts of data and make accurate forecasts.

Die Integrating AI into the forecasting process enables companies to respond effectively to changing market conditions and to better optimize business decisions. This takes into account unforeseeable events and collects real-time data, resulting in numerous advantages over traditional forecasting methods.

Calculate sales forecast: areas of application and significance

A precise sales forecast is crucial for numerous industries, as it helps Increase efficiency, reduce costs and improve competitiveness. It is used in particular in the following areas:

• Production & logistics: Accurate forecasting makes it possible to optimize production planning and warehousing so that overproduction and overstocks are avoided and the supply chain is made more efficient.
• Marketing & sales: Sales strategies can be adjusted in a more targeted manner and marketing campaigns can be made more effective.
• Financial planning: Forecasts of future income and expenditure improve financial management.
• Risk management: Companies can better prepare for uncertainties and market risks.

Sales forecast in food retailers & bakeries: avoid food waste

With regard to food retailers and bakeries in particular, the calculation of the sales forecast plays a major role and can finally Reduce food waste. An accurate sales forecast helps to avoid excess stocks and thus reduce food waste. Sales forecasting can thus enable effective production and warehousing as well as optimal order quantities and ultimately reduce food waste. In bakeries, a sales forecast helps to better plan production and supply. The quantity of unsold baked goods is reduced because the sales forecast ensures demand-based ordering and thus improves order planning. This in turn leads to returns optimization.

Sales forecast in retail: optimal inventory planning

In retail, sales forecasting is crucial in order to Plan inventories optimally and avoid overstocks or understocks. By making accurate forecasts, retailers can ensure that they have enough goods in stock to meet demand without tying up too many resources in excess inventory.

A typical example is forecasting sales figures for a new product in a supermarket. For example, sales data for similar products, seasonal trends, holidays and current market conditions are taken into account.