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WorksheetsSales Forecast
Total questions: 12
Worksheet time: 6mins
A ________ predicts a company's future sales.
Revenue stream
Sales forecast
Wholesaler
Department manager
Qualitative forecasting is based on which of the following? Choose ALL that apply.
Expert opinion
Past experience
Factual numbers
Current observations
Quantitative forecasting is based on? Select ALL that apply.
Hard facts
Expert Opinions
Numerical data
Current observation
Weaknesses of qualitative data included which of the following.
Could be biased and lack accuracy
Provides a variety of viewpoints
It is inexpensive
Beneficial when there isn't hard facts available
Benefits of quantitative data include?
Requires subscriptions to industry publications
It is expensive
It is complicated to organize and compile data
It is reliable and objective
Short-term forecasts are for 3 months or less. They are used to
Help with day-to-day planning, scheduling, staffing and inventory
Help create yearly budgets
Plan for capital expenditures, like land or machinery.
Decide on developing new products
Intermediate forecasts cover from 3 months to 2 years. They are used to:
Plan day-to-day activities like scheduling, staffing, and inventory
Plan yearly budgets and capital expenditures
Plan for new buildings/facilities
Plan for new product development
Long-term forecasts are for two or more years. Long-term forecasts are used to:
Day-to-day planning, scheduling, staffing, and inventory
Planning for capital expenditures
Planning yearly budgets
Strategic Planning like when to develop new products or build new facilities
True or False: Sales forecasts helps companies to determine how much raw materials they need and how many products they need to make.
True
False
True or False: Sales forecasts can help companies decide when/if they need to hire more employees.
True
False
Which of the following are external factors that impact sales forecasts? Choose ALL that apply.
Political conditions
Economic conditions
Competition
Population changes
Which of the following are internal factors that impact sales forecasts? Choose ALL that apply
Inventory
Changes in product price
Changes in promotion spending
New product introductions
