what is sales forecast
Forecast is made on basis of past sales and forecasting I don't know
Roughly, a Sales Plan is your strategie for achieving sales (purchases). A Sales forecast is an estimate at the beginning of a time period of how much one expects to sell.
A sales plan and a sales forecast are essentially the same, however the big difference is one is a set plan for the whole year. It is mostly used with larger corporations to single out units. A sales forecast is set at the store/branch level and is there to help with the changing situations (ie weather, natural disasters, and the such) A plan is what you are going to do and a forecast is what you think is going to happen. There should be a link between the two, but you may not have the capacity to make all that you could sell.
sales volume quota ,expense quota, profit quota, activity quota
a sales quota is the amount of business that can be expected from a sales territory
A forecast of Sales is calculating the amount of items you expect to sell over a certain period, whereas a Production forecast is calculating the amount of items you expect to produce over a certain period.
Sales plan is prepared based on sales forecast which is from previous experiance or on based on market research or intuition, an estimate that how much sales will be required in future.
demand forecasting is crucial for sales forecast
Sales forecasting is using business intelligence to develop a strategy for budgets. Business intelligence is the data used to get the sales forecast.
sales quota as mean of sale forecasting
difference between sales objectives and commuicatio objectives?
When a salesperson is required to make 10 sales a day, he has a quota of 10.
Difference between Budget and Forecast Once the financial objectives have been set, it is possible to prepare and agree a budget. A budget should relate the overall plan in figures. It is different from a forecast in the sense that the plan, and therefore the budget, sets minimum requirements, whereas a forecast is usually an expectation of what is likely to happen. Example: You might choose to budget for sales of £180,000 and use this figure in calculating your likely expenditure, profit and so on. Based on your market research, however, you predict sales of £200,000, and set a target of £220,000, in order to stretch your sales force. If all your costs are covered by the budgeted figure, then you will make a greater profit if you achieve the forecast and a still greater one if you achieve the target. (Whilst this is an important distinction, in practice for most businesses the forecast and budget will be the same.)
The difference between a sales executive and sales officer will depend upon the company. Most times, a sales executive will have a higher position than a sales officer.
Divide the total sales by the total sales forecast
The types of quota include profit-based quota, volume-based quota and combination quota. This refers to the goal set by managers to compare or measure the performance of the employees and to help determine their compensation.
Difference between revenue from sales and cost of goods sold is called "Gross profit".
the sales forecast or sales budget.
Sales forecast is simply a predication of the volume of units or financial sales expected (normally in a year) A manufacturing company will forecast both unit and financial expectant as they will use the information to establish increases/decreases in raw materials, labour and plan etc. Cash flow is looking at the money in and out of the business, where its from/ going to and financial risk of a minus financial event where out going exceeds incoming.
The difference between corporate sales and institutional sales is that the former is a type of sales transaction between one business and another. The latter is a financial sale made by affluent brokerage companies to high net worth investors.
They literally mean the same thing.