FORECASTING
How to Build a
Solid Forecast
BY BOB STIMOLO
A
ccurate forecasts are important to run-
ning a business efficiently. If your fore-
cast is too high, more money is invested
in having products (or services) available to
meet the anticipated demand than is necessary,
reducing the company’s profitability. On the
other hand, if the forecast is too low, there is
6 essentials | fall 2018
not enough product (or service staff) to fulfill
orders resulting in delayed shipments, cancelled
orders and unhappy customers, again affecting
the company’s profitability. Yet, forecasting can
be challenging, especially in the education mar-
ket. Here are some thoughts that might make
forecasting for your company a little easier.