Master course in sales forecasting and sales management 2.0 : The process of estimating future sales (revenues) is called sales forecasting. Although this seems daunting at first, it can actually be done fairly painlessly with some application. The key to forecasting sales is to understand the underlying assumptions and drivers of sales, then track and manage them.
A forecast can be described as an indication of what’s likely to happen in a certain field in the future. In other words, a sales forecast tells you how much of a particular product is likely to sell in a specified market at a specified price in the future.
The ability to forecast sales accurately is key to a business’ ability to produce the right amount at the right time. In addition, raw materials, equipment, and labor are all arranged in advance. The material is generally produced in advance in order to meet future demand, but some firms manufacture by order.
The process of estimating future work, like sales, includes estimating quantity, type, and quality. Having a thorough assessment of market trends is very critical for any manufacturing company. Future planning of the entire company depends on this forecast from the sales department.
What is sales management?
In sales management, you develop a sales force, coordinate sales operations, and implement sales techniques so you can hit sales targets consistently.
An effective sales management strategy is essential for any business. No matter what industry you’re in, precision sales management processes are always the key to managing sales and boosting performance. Effective sales managers inspire and lead their teams.
Your sales management system can also help you stay in touch with your industry as it grows, which can make all the difference between surviving and flourishing. This course will execute the lecture concepts with Forecasting, Sales forecasting, Forecasting model, Time Series Analysis, B2B sales, Sales management and Sales skills.
This master course will cover 5 major topics:
1. Introduction and importance of sales forecasting and sales management 2.0
2. How to build a sales forecast for your business
3. Types, techniques and methods of sales forecasting in sales management
4. Sales forecasting using machine learning
5. Sales management in sales and distribution management