PROFITABLE PROJECTIONS: HOW SALES FORECASTING DRIVES ORGANIZATIONAL PERFORMANCE IN THE NIGERIAN BAKERY INDUSTRY

Abstract

Sales forecasting is a crucial aspect of organizational planning, enabling managers to anticipate and plan for future demand, control costs, and improve logistics operations. However, many organizations struggle with sales forecasting planning and process, resulting in choosing the wrong sales forecasting technique and failing to accurately predict future sales, which can have detrimental effects on organizational performance. This study focuses on the bread-making industry in Nigeria and analyzes the impact of sales forecasting on organizational performance, using both qualitative and quantitative research methodologies to analyze data gathered from the field. The study reveals that all dimensions of sales forecasting positively affect organizational performance and recommends that organizations have a sound sales plan, develop effective and efficient sales processes, and monitor the activities of salespeople to improve sales forecasting decision-making processes. This document also includes a literature review on the concepts of sales forecasting, sales planning, sales process, salespeople’s activities, and sales performance, providing a comprehensive understanding of the importance of sales forecasting in the growth and development of organizations.