Published in the UK by Macmillan
Profits are planned in any forward looking company. Good accounting practice and timely forecasting are crucial for good organisation. In an era of rapid and continuous change, it is vitally important that a firm should be able to predict its own future accurately.
Forecasting for Sales and Materials Management is a practical and easy-to-read guide to sales and materials forecasting techniques which assumes no previous knowledge. The purpose of forecasting is given within the setting of an organisation and the three main types of forecast - short, medium and long term - are described in detail. The choice of forecasting technique is considered in relation to the use that is to be made of the forecast, which involves looking at hard and soft data, acceptable error in a forecast and planning horizons.
This book gives a thorough and practical overview of objective and subjective forecasting, the need for availability and sources of data, time-series analysis and causal techniques. The authors have written a clear and concise treatment which can be understood without any specialist knowledge of mathematics. It is aimed at the practisioner in industry and commerce as well as being an introductory text for none-specialist students.