Glossary
Demand forecast
A demand forecast is an estimate of how much of an item you will sell next period, based on past sales and the season.
What it means for a shop owner
Start with the average of the last 3 months, then adjust for the season and coming offers. You do not need a complex formula, a close estimate gives better orders. Compare your forecast with what happened to improve it.
A worked example
You sold 90, 110 and 100 in 3 months, so the average is 100. A busy season is coming that adds 20 percent, so you forecast 120 and order on that.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes