Priyansha Chouksey

Aparna Deshpande

Praveer Agarwal

Dr. R.C. Gupta

Abstract

Sales forecasting is the most important activity of the Production planning and control and success of the firm is highly driven by accuracy of the forecasting. Sales forecasting aims to determine the demand of the product which helps in determining the available facilities and resources with the firm to meet the demand and procure more if necessary. In this research work, various critical success factors were identified and their overall and individual impact on sales forecasting was determined on the basis of real-time primary data and secondary data of the automobile firm situated at Pithampur specifically in the commercial vehicle segment study were done. In this paper, an attempt is made to apply regression analysis on external and internal factors to forecast sales of the company. This method was chosen as the best among others as it analyzes all driving factors of the sales unlike time-series forecasting technique. This study adds to the literature of sales forecasting, an approach that analyze and compare various macro and micro factor's sensitivity towards the forecasting accuracy

Keywords- Sales Forecasting, Regression Model, Automobile industry, Internal and External factors