What is a Sales Forecast?
A Sales Forecast is a prediction of the number of units you believe you can sell in the year ahead. It is not what you want to sell, but rather, how many unit sales are likely based on market size and actual demand.
Accurate sales forecasting is essential to succeeding in the MikesBikes Business Simulation. This will enable you to project future sales revenue and profitability. Get it too wrong and you will end up with excess stock on hand which will cost your company in holding fees. However, don’t expect perfection as it will always be an estimate.
How do I conduct a Sales Forecast in MikesBikes?
The videos below will demonstrate the best approach to forecast how many units you may sell in the year ahead.
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