{"id":2718,"date":"2025-09-16T03:18:15","date_gmt":"2025-09-16T03:18:15","guid":{"rendered":"https:\/\/www.smartsims.com\/support\/?post_type=ht_kb&#038;p=2718"},"modified":"2025-09-17T02:58:21","modified_gmt":"2025-09-17T02:58:21","slug":"common-mistakes-getting-sales-forecasts-wrong","status":"publish","type":"ht_kb","link":"https:\/\/www.smartsims.com\/support\/article\/common-mistakes-getting-sales-forecasts-wrong\/","title":{"rendered":"Common Mistakes in MikesBikes: Getting Sales Forecasts Wrong"},"content":{"rendered":"\n<p>We have noticed two common mistakes students make when forecasting sales: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Excessive Closing Inventory <\/strong>&#8211; producing too much stock that sits unsold.<\/li>\n\n\n\n<li><strong>Lost Sales<\/strong> &#8211; running out of stock because production didn&#8217;t meet demand.<\/li>\n<\/ul>\n\n\n\n<p>Both problems usually come from inaccurate sales forecasts for the year ahead. Ideally, a firm would minimize these issues by forecasting sales carefully and adjusting production based on the forecast, while also considering existing inventory levels.<\/p>\n\n\n\n<p>We have a helpful article available that shows exactly <a href=\"https:\/\/www.smartsims.com\/support\/article\/how-to-sales-forecast-mikesbikes-introduction\/\">how to forecast sales in MikesBikes Introduction<\/a> and <a href=\"https:\/\/www.smartsims.com\/support\/article\/how-to-sales-forecast-mikesbikes-advanced\/\">MikesBikes Advanced<\/a> for both new and existing products. It&#8217;s a great resource to get it right from the start!<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We have noticed two common mistakes students make when forecasting sales: Both problems usually come from inaccurate sales forecasts for the year ahead. Ideally, a firm would minimize these issues by forecasting sales carefully and adjusting production based on the forecast, while also considering existing inventory levels. We have a&#8230;<\/p>\n","protected":false},"author":5,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"ht-kb-category":[57,56],"ht-kb-tag":[],"class_list":["post-2718","ht_kb","type-ht_kb","status-publish","format-standard","hentry","ht_kb_category-common-mistakes-in-mikesbikes-advanced","ht_kb_category-common-mistakes-in-mikesbikes-introduction"],"_links":{"self":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb\/2718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb"}],"about":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/types\/ht_kb"}],"author":[{"embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/comments?post=2718"}],"version-history":[{"count":7,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb\/2718\/revisions"}],"predecessor-version":[{"id":2736,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb\/2718\/revisions\/2736"}],"wp:attachment":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/media?parent=2718"}],"wp:term":[{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb-category?post=2718"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb-tag?post=2718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}