This test is run by .
Note that your final mark will not be saved in the system.
Note that your final mark will not be saved in the system.
2.2.1 Sales forecasting & 2.2.2 Sales, revenue and costs Categorise
Target Level
C
Running Total
0
0%
Attempt
1 of 1
Click on an item, then click on a category to place it. Or, drag and drop the item into the correct category. Organise all items before clicking 'Check'.
USES OF SALES FORECASTING
LIMITATIONS OF SALES FORECASTING
Does not take into account shocks
No guarantee that forecasts will be correct
Businesses operate in dynamic markets
Identifies when the business will need to start promotional activity
Does not take into account uncertainty
Enables the business to see when they will need to hire more temp staff
Difficult to be accurate beyond the short-term
Can be used when no past sales data is available
Enables the business to see if they will need to increase capacity
May suffer bias