ABSTRACT
The prediction of the future in a company which is developing is extraordinarily hard. In a growing business everything seems to be changing all the time. Developing companies have little time and their management is fully committed to the day-to-day task of keeping the business going. Many companies are entirely dependent upon their sales management for forecasting. One method of doing it is by the 'sales force consensus' technique. The simplest sales forecasting method is often the best. This maps out what has happened to sales over the past years, preferably in chart form. Longer-term forecasting is a difficult exercise. The short-term forecast for one or two years ahead is necessary for programmes to be drawn up, targets to be set, budgets agreed and this assumes that the business will continue in its present form. The medium-term forecast, up to about five years ahead, is necessary to make detailed plans for new factories, or to build new manufacturing plant.
