Below are the 2 most recent journal entries recorded in youngcalhoun112's InsaneJournal:

Monday, February 13th, 2012
11:56 pm	Money Tight, Find Lost Sales Through Effective Sales Forecasting When income drops unexpectedly, a company can find lost sales through effective sales forcasting. Most businesses have certain times of the year where they see an increase in revenue, and other months where income slows down. This is why a monthly breakdown of revenue for all products is so important. Some clients may leave the company and the marketing department may find new customers, effective the overall demand for the product, effecting profits for the year. Add to that unexpected external changes, such as regulations, market shifts, and salary increases, and the prediction becomes more volatile. The formula a company uses to predict income is only a guideline, not a hard fact. When done right, however, the guideline can be pretty accurate and businesses use it to gage future earnings and possible expansion when times are good. When times are bad, there is a way to find lost sales through effective . Computer and Internet-based software programs can help businesses track each of the individual factors to help a company create accurate sales forecasts. The program can take the data from several years in order to make a prediction for income for the next couple of years. As the company learns about potential changes in external factors, those changes can be inputted into the system to alter the results. With the aid of this software, businesses can add even more elements that effect product revenue. When it comes to business, processes such as inventory level, shipping, and customer service can impact income as much as seasons and inventory costs. Tracking these processes helps to more accurately predict what the future revenue for a company will be, and is a benefit when performance levels of a particular product line drops unexpectedly. If a company begins to experience a drop in sales, there may be many different contributing factors. If the drop is unexpected, the company may consider external factors that could account for the loss. With the ability to find lost sales through effective , companies can create a steady income stream. (Comment on this)
10:47 pm	Find Lost Sales Through Effective Sales Forecasting To Increase Annual Earnings When analyzing all the separate factors that create a forecasts, a business understands all the elements that come together to create an accurate prediction of revenue. When income drops unexpectedly, examining these individual components can often show a company where a problem lies. External and internal factors combine to help predict future income from products and services. Internal factors include monthly intake of each revenue stream, advertising, production costs and returns. The state of the economy, inventory costs and the change in the market are external factors that can affect revenue. Other external factors can include government regulation, industry changes, and national employment rate can increase or decrease revenue. Seasonal fluctuations, expired contracts and expected new contracts are annual changes most businesses face. If the price of essential components increase, or a company receives returns or cancellations, the revenue streams of a company will be effected, and so will income predictions. The formula used to determine annual revenue is not absolute. Sales do not stay exactly the same year after year. The formula can be used as a guide to predict income and, when revenue declines, the marketing department is able to find lost sales through effective sales forecasting. A company can alter the formula slightly as they learn about changes that may occur in external factors. Using computer and Internet-based software, businesses can easily track the separate components that create forecasts. Then, the software uses the history of the company to determine future income for three to five years. Modern software is advanced enough to allow businesses to track information more accurately than was possible before. Internet-based programs can include customer management software, how long a product takes to reach a customer, and daily inventory levels. All of the advances help a company determine if they are where they should be at any given point. If clients are refusing orders, not renewing contracts or not ordering as frequently, there may be a quality issue with the product lines that need to be addressed. This should help recover lost clients and help the business get back on track. With the ability to find lost sales through effective sales forcasting, companies can create a steady income stream. (Comment on this)