bake - August 2015 - 38
predict the future
Well thought out sales forecasts work as
a useful tool to running a retail bakery.
BY BOB SIMS
No business person will ever possess the ability to
An argument can be made that without incorpo-
Above: Sales fore-
forecast future sales with 100 percent accuracy. No
rating accurate sales forecasts into decision making,
casting keeps pro-
matter one's level of education or work experience,
businesses can create many serious problems in
duction numbers in
variables that bakery owners, managers and accoun-
the future, says Namrita Singh of Trianz, a business
check throughout
tants can't control will continuously shift up and
strategy execution company in the Silicon Valley.
the year.
down. Trends will go in and out of favor, employees
might come and go and the economy might change
Getting Started
without warning, but bakeries still need to write out
The first step to writing an accurate sales forecast
sales forecasts to the best of their abilities, making it
involves breaking down your product categories. To
as accurate as possible regularly.
start, don't worry about individual flavors, just set
up your products by what they are. For example, use
Importance
cakes, cupcakes, muffins, cookies, donuts, etc.
Sales forecasting has the ability to improve several
areas of operation in the retail bakery. By creating a
Once you have your product breakdown, start fore-
sales forecast, bakeries can predict cash flow, monitor
casting by month. If you have access to past sales
prices and control operating costs with a higher
data, use the most recent data as an aid. Statistical
degree of confidence and accuracy. For the launch
analysis techniques exist that will project past data
of new and promising products, a sales forecast will
into the future.
provide a base for planning and execution. Sales forecasts will also help with human resources planning by
However you can get close to the same results by
allowing the avoidance of surprise layoffs or needing
projecting your two most recent years of sales by
new hires to meet with unforeseen business demands.
month on a line chart and then visually tracking it
38 < AUG 2015 | bakemag.com
http://www.bakemag.com
bake - August 2015
Table of Contents for the Digital Edition of bake - August 2015
bake - August 2015
Editor's Note - The Consumer Issue: Six Key Trends to Watch
Table of Contents
News Bites - New tech informs new view on foods
Dawn Foods opens new distribution facilities
Call for action on food donation incentives
My Favorite Things
Management - Responsible Packaging
Legislation - GMOs Back in the Spotlight
Ingredients - Beyond Sweet
Equipment - Energy Saving Ovens
Shifting Gears
Paying Attention to Trends
Local Hero
Predict the Future
Sandwich Still King
Clean Label Becomes the Standard
Dispelling the Myths
Ready for Fall Weddings
Decorated Shortbread
Cafe - Veggie Powered Wraps
Get ‘em Going
Products
Product Showcase
Classifieds
Ad Index
Management - Bakemag.com
bake - August 2015 - bake - August 2015
bake - August 2015 - 2
bake - August 2015 - Editor's Note - The Consumer Issue: Six Key Trends to Watch
bake - August 2015 - 4
bake - August 2015 - 5
bake - August 2015 - Table of Contents
bake - August 2015 - 7
bake - August 2015 - Call for action on food donation incentives
bake - August 2015 - 9
bake - August 2015 - My Favorite Things
bake - August 2015 - 11
bake - August 2015 - Management - Responsible Packaging
bake - August 2015 - 13
bake - August 2015 - Legislation - GMOs Back in the Spotlight
bake - August 2015 - 15
bake - August 2015 - Ingredients - Beyond Sweet
bake - August 2015 - 17
bake - August 2015 - Equipment - Energy Saving Ovens
bake - August 2015 - 19
bake - August 2015 - Shifting Gears
bake - August 2015 - 21
bake - August 2015 - 22
bake - August 2015 - 23
bake - August 2015 - 24
bake - August 2015 - 25
bake - August 2015 - 26
bake - August 2015 - 27
bake - August 2015 - 28
bake - August 2015 - 29
bake - August 2015 - Paying Attention to Trends
bake - August 2015 - 31
bake - August 2015 - 32
bake - August 2015 - 33
bake - August 2015 - Local Hero
bake - August 2015 - 35
bake - August 2015 - 36
bake - August 2015 - 37
bake - August 2015 - Predict the Future
bake - August 2015 - 39
bake - August 2015 - 40
bake - August 2015 - 41
bake - August 2015 - Sandwich Still King
bake - August 2015 - 43
bake - August 2015 - Clean Label Becomes the Standard
bake - August 2015 - 45
bake - August 2015 - Dispelling the Myths
bake - August 2015 - 47
bake - August 2015 - Ready for Fall Weddings
bake - August 2015 - 49
bake - August 2015 - 50
bake - August 2015 - 51
bake - August 2015 - Decorated Shortbread
bake - August 2015 - 53
bake - August 2015 - 54
bake - August 2015 - 55
bake - August 2015 - Cafe - Veggie Powered Wraps
bake - August 2015 - 57
bake - August 2015 - Get ‘em Going
bake - August 2015 - Products
bake - August 2015 - Product Showcase
bake - August 2015 - 61
bake - August 2015 - Classifieds
bake - August 2015 - 63
bake - August 2015 - 64
bake - August 2015 - 65
bake - August 2015 - Ad Index
bake - August 2015 - Management - Bakemag.com
bake - August 2015 - 68
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