Communiquez avec les autres et partagez vos connaissances professionnelles

Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.

Suivre

What is the relationship between Sales forecasting, Sales planning, and goal setting?

user-image
Question ajoutée par Nitin Gupta, ACA , FP&A , Rockwell Automation
Date de publication: 2013/11/18

they are all related,   we forecast sales, and based on that we plan sales to achieve the goals set

nufall qanah
par nufall qanah , محاسب ضريبي - مستشار ضريبي , مؤسسة حسين خليفة للاسشارات الضريبية

Demand Forecasting and Sales Forecasting are different, and the results of each can have a dramatic impact on your profitability. Demand Forecasting and Sales Forecasting should be calculated with some similar and some different data points. While closely related, the two resulting forecast numbers will not be the same in most business situations. The forecast results will impact the inventory replenishment by impacting available inventory, expected inventory orders, and sales. An inventory replenishment system that is based on a demand forecast (demand driven) can reduce the risk of lost sales while improving service. This in turn delivers higher sales by connecting inventory levels with demand forecast

 

Francisco Beltran PMP | MBA | MSc Ec.F | CIMA(CGA)
par Francisco Beltran PMP | MBA | MSc Ec.F | CIMA(CGA) , Financial Management Consultant/Modeler , IFSM Consulting

A sales forecast should be viewed as an estimate of what future sales might be, given certain environmental conditions. A sales plan should be seen as a management decision or commitment to what the company will do during the planning period. A sales goal should be a target that everyone in the organization strives to attain and exceed.

Muhammad Zeeshan Sarwar
par Muhammad Zeeshan Sarwar , Financial Controller , Arveen General Trading LLC

Sales forecasts are estimates or projection of achievable sales revenue for a specific future period. It is based on historical sales data, analysis of market surveys & trends and knowledgeable estimates.

It is also called sales budget and it forms the ‘basis of a sales plan’ because the level of sales revenue affects practically every aspect of a business.

The sales forecast establishes the level of activity used in all the other forecasts and budgets for the business. If your sales forecast varies wildly from your actual results, your cash flow and profitability forecasts will similarly be inaccurate.

Forecasts & budgets should be regularly updated according to changing market conditions.

 

sales plan contains an assessment of current sales for a product, a statement of sales objectivesstrategies for achieving the stated sales objectives, and resources available for achieving this goal.

 

Goal setting is the segmentation of plan into smaller parts such as profit marginsrevenue targetsadvertisingdistribution partners and targeted demographicsSales plan is based on sales forecast. And then sales plan is broken down into goals to achive the desired results.

 

In simple words, following is the inter-relationship and sequence:

1st step is forecasting the sales

2nd step is preparing a sales plan

3rd step is setting goals to achieve sales plan

 

Malik Khalid Mahmood
par Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

Sales forecast are the projections, means the expectations based on historical relations in consideration to others products exists by competitors,

Sales Planning is a plan how to launch the product in the market, what sources and techniques we will use to introduce it.

Goal setting is an ideal target on which a missile launed or on which the Company have to run the business, without the goal setting, the organization looks blind.

However, Sales forecast and Planning we make by looking our goals and goals we make by looking our sales forecast and Business Plans.

 

Sanoop Kumar V G
par Sanoop Kumar V G , financial controller , Africana Discount Hypermarket

Sales Forecasting is fore casting the sales for the future on the bais of current market & other aspect

Sales planning  is how to attain the forecasted sales

Goal setting is what are the things we have to do & how we can to achive the aim 

Khaled Abdelrehim ACCA DipIFR CMA
par Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

All the items are related to planning. First, you begin with setting the goal as part of strategic planning, then you move to short term planning and set the sales planning and finally you use forecasting as a toll for sales planning.

pravitha nottath
par pravitha nottath , Customer Service Representative , Tanfeeth enbd.group

sales forecasting, sales planning and goal setting

1. sales forecasting means preplanned the activiteis in sales for the future refference,because in this competitive market scenarion nothing will be done without any preplanned acivities thus sales forecasting is an important business endeavour.

2.sales planning: in sales planning we have to select what ,wher ,when ,which methods are used to attein the target and also what are the sales promotion activities that we must to do in the process of sales planning.

3.goal setting: we can analyse the current market and understanding the customer we can create some innovative feature of product promotion on that basis we set some rules and proceedures and stanadards to accomplish some targeted results these all are settled in this time.

Mohammad Tohamy Hussein Hussein
par Mohammad Tohamy Hussein Hussein , Chief Executive Officer & ERP Architect , Egyptian Software Group

Sales forecasting is one of the inputs to sales planning and goal setting is an outcome from the sales plan.

Ahmed Lutfi Abu Rasheed
par Ahmed Lutfi Abu Rasheed , Chife Accountant , Cigalah Trading Est.,

How much will we sell( Forecasting )How will we sell(Sales planning  )What is the purpose of sale  Goal

Menerva Melad
par Menerva Melad , Account Executive, Key Accounts , Graphic Home Company

Sales forecast are the projections, means the expectations based on historical relations in consideration to others products exists by competitors,

More Questions Like This