How does a sales forecasting software work?

Sales Forecasting Software: How do they work? | Imperia

What is the purpose of demand planning or sales forecasting?

Through demand forecasting, sales planning can be established for the short, medium, and long term, helping to visualize expected demands based on advanced mathematical models in order to optimize transportation and capacities. All of this is possible thanks to sales forecasting software.

In this way, by knowing the quantities to be supplied accurately, it is possible to try to adjust the process of purchasing raw materials, manufacturing, and product distribution.

Furthermore, this is a great advantage for companies themselves, as knowing how many units need to be produced provides a competitive advantage that can lead to cost savings in purchasing, production, and transportation.

What are the objectives of demand planning or sales forecasts?

When making demand forecasts using sales forecasting software, the main objectives are:

1. Adjusting the production needs of the company
2. Adjusting the personnel and resource needs of the company
3. Obtaining an annual, monthly, and weekly financial plan
4. Optimizing the production of references
5. Storing the necessary stock

What is the process for making an accurate sales forecast?

The procedure for obtaining a reliable sales forecast using sales forecasting software is as follows:

1. Loading historical data
2. Data cleansing
3. Statistical forecasting
4. Business intelligence
5. Validation of the obtained sales forecasts
6. Consensus demand plan
7. Continuous review of demand forecast, analysis of deviations

Sales forecasting is an indisputable factor in the success equation of any company.

Request a free demo of our sales planning software now and start reducing costs!

Imperia SCM - 19/4/2019

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