Managing Sales Forecasting

Abstract

This research examines the extent to which the number of sales forecasting methods used by a company affects forecast accuracy and the extent to which organisation affects the number of sales forecast methods chosen. The objective is to better understand marketing management practices in this respect. Contextually, the study is part of the shift in sales forecasting research away from studies of accuracy per se to studies of organisation and implementation issues. It is widely recognised that objective techniques improve forecast accuracy, especially in the long run; yet, there is considerable evidence that such techniques are not widely used. The question of why there is such a discrepancy between practice and conventional wisdom, accounts, in large part, for this interest in organisation and implementation and the development of forecast models that incorporate implementation strategies.