Sales Forecasting Practices of Large U.S. Industrial Firms

Pan, Judy; Nichols, Donald R.; Joy, O. Maurice

doi:10.2307/3665259

Cited by 24 publications

(8 citation statements)

References 2 publications

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“…Practitioners, on the other hand, prefer the internal rate of return (IRR) method, as several other studies have revealed. For example, the study of Pan, Nichols, and Joy (1977) presented some evidence regarding the current state of the art of business sales forecasting practices. McDaniel, McCarty, and Jessell (1988), developed an alternative yield-based capital budgeting technique, the marginal return on invested capital (MRIC).…”

Section: Review Of Literaturementioning

confidence: 99%

Capital Budgeting Practices: A Survey in the Firms in Cyprus

Lazaridis¹

2004

J Small Business Management

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Section: Review Of Literaturementioning

confidence: 99%

Capital Budgeting Practices: A Survey in the Firms in Cyprus

Lazaridis¹

2004

J Small Business Management

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“…Previous studies include those by Sales Management (1987), Dalrymple (1975), Dalrymple (1987), Mentzer and Cox (1984), Wheelwright and Clarke (1976), Sparkes and McHugh (1984), Rothe (1978), Cerullo and Avila (1975), Pokemper and Bailey (1970), and Pan et al, (1977). These primarily have used only leading business firms, Fortune 500 US firms.…”

Section: Literature Reviewmentioning

confidence: 99%

Differences in forecasting behaviour between large and small firms

Smith

Herbig

Milewicz

et al. 1996

Journal of Marketing Practice: Applied Marketing Science

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If there is any one function managers most despise, it is the art of forecasting. By its very nature it concerns guessing the outcome of future events. Do all firms forecast the same? Compares forecasting behaviour between large and small firms and examines questions such as who does the forecasting, how often do they do forecasts, what areas are forecasted, what techniques are used, why they do it, what results are like from forecasting effort, and are they satisfied or dissatisfied. Examines significant differences in forecasting behaviour and makes conclusions.

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“…An additional 28 per cent said forecasting was important although not critical (Dalrymple, 1975). Since sales forecasting is an important input to the corporate planning process, it is not surprising that surveys have been done on the use of forecasting techniques in companies (Dalrymple, 1975; Conference Board, 1970, 1971Pan, Nichols and Joy, 1977;Reichard, 1966; Sales Management, 1967;Wheelwright and Clarke, 1976). A summary of the scope of these surveys is given in Exhibit 1.…”

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confidence: 99%

Familiarity, application, and performance of sales forecasting techniques

Mentzer

Cox

1984

Journal of Forecasting

176

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This article presents the results of a survey to determine the degree of familiarity and usage, accuracy obtained, and evaluation of different forecasting techniques. It was found that regression analysis, subjective techniques, exponential smoothing, and moving average were well known and used for specific situations. Accuracy was relatively high for aggregate short range forecasts, but decreased for longer range and product level forecasts.KEY WORDS Businesspeople survey of forecast technique familiarity, usage and accuracy Sales forecasting is rapidly becoming one of the most crucial aspects of planning for companies. A survey of 175 midwestern businesspeople indicated that 65 per cent thought sales forecasting was very important to their company's success. An additional 28 per cent said forecasting was important although not critical (Dalrymple, 1975). Since sales forecasting is an important input to the corporate planning process, it is not surprising that surveys have been done on the use of forecasting techniques in companies (Dalrymple, 1975; Conference Board, 1970, 1971Pan, Nichols and Joy, 1977;Reichard, 1966; Sales Management, 1967;Wheelwright and Clarke, 1976). A summary of the scope of these surveys is given in Exhibit 1.The purpose of this article is to report the results of a survey to investigate the use, performance, and satisfaction of forecasting managers with current sales forecasting techniques. One objective was to determine how familiar executives are with various forecasting methods and what avenues are used to learn about new methods and applications. The avenues used indicates how managers have most effectively learned about techniques. This information should help direct other managers in the forecasting learning process.A second objective was to determine how satisfied managers are with using different forecasting techniques. This information should give an idea ofwhich techniques have been most successful in real world applications. No study has looked at the question of satisfaction in using different forecasting techniques. However, Wheelwright and Clarke (1 976) looked at the ongoing use of various methods.Readability: The Gunning Fog Index for this paper is about 15.

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Sales Forecasting Practices of Large U.S. Industrial Firms

Cited by 24 publications

References 2 publications

Capital Budgeting Practices: A Survey in the Firms in Cyprus

Capital Budgeting Practices: A Survey in the Firms in Cyprus

Differences in forecasting behaviour between large and small firms

Familiarity, application, and performance of sales forecasting techniques

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