Abstract
M.Com. (Business Management)
Forecasting is an important function used in a wide range of business planning or
decision-making situations. The purpose ofthis study was to build a sales forecasting
model that would be practical and cost effective, from the various forecasting methods
and techniques available.
Various forecast models, methods and techniques are outlined in the initial part of this
study by the author. The author has outlined some of the fundamentals and limitations
that underline the preparations of forecasting models. It is not the purpose of this study to
microscopically dissect each forecasting model, method or technique.
Various forecasting options were assessed in a manner that could provide some relevance
to the study, thus providing a general framework for the construction of the specific sales
forecasting model.
Appropriate data sources were described and analysed. The data was further tested using
the author's chosen quantitative forecasting techniques.
Results were interpreted, and included into the author's untested sales model. It is the
author's opinion that the sales model is practical, cost effective and gives a general sales
forecast.