Sales Forecast 

What is a sales forecast?

The sales forecast is the prediction of how many products will be sold in a certain period of time. It is a central instrument of order planning planning and plays a decisive role in determining the optimum order quantity.

The aim of the sales forecast is to make well-founded decisions for purchasing, warehousing, production and personnel - based on data and market observation.

Methods for creating a sales forecast

There are different approaches to creating sales forecasts - depending on the industry, data situation and objective:

• Analysis of historical sales data: Past sales figures are analyzed to identify trends and patterns. Example: If sales have increased by 3% annually in recent years, it can be assumed that a similar development will also take place in the coming year.
• Market research and customer feedback: Studies and feedback from customers provide insights into consumer behavior and potential. If, for example, interest in a certain product category grows, this flows directly into the forecast for future sales.
• Competitor analysis: Observing competitor activities can provide valuable information for your own sales planning. New products or promotions from competitors often influence the development of demand in your own product range.
• Consideration of external factors: Sales forecasts become more accurate when seasonal fluctuations, weather conditions, economic developments or regional events are taken into account - e.g. higher ice cream sales in summer or changes in consumer behavior during inflation.

Sales forecasts with artificial intelligence

The use of artificial intelligence (AI) raises the quality of sales forecasts to a new level. By processing large amounts of data from various sources - such as historical sales data, weather forecasts, public holidays or market trends - AI creates highly accurate forecasts.

The advantages at a glance:

• Less food waste through needs-based planning
• Higher availability of goods due to timely reordering
• Cost reduction by avoiding overproduction and excess stock

In the food industry in particular, AI-supported sales forecasts can make a significant contribution to sustainability and profitability.

Areas of application for sales forecasts 

A reliable sales forecast is indispensable for many business areas:

• Inventory management: optimization of warehousing, avoidance of excess stock and shortages
• Production planningEnsuring the right production quantities at the right time
• Marketing management: planning targeted campaigns based on expected demand
• Personnel planning: better deployment planning depending on the forecast customer volume

Sales forecasts therefore provide the basis for efficient, data-driven decisions in operational and strategic business.