Building a Sales Forecasting Model for Ootdbuy Proxy Purchasing in Spreadsheets with Inventory Management Applications
2025-04-24
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Introduction
Effective sales forecasting and inventory management are critical components for Ootdbuy's proxy purchasing business model. By implementing time series analysis and regression techniques within accessible spreadsheet platforms, businesses can create powerful predictive models to optimize procurement strategies and inventory levels.
Data Preparation for Sales Prediction
The foundation of accurate forecasting begins with comprehensive historical data collection:
- Historical Sales Data:
- Seasonal/Discount Periods:
- Market Influencers:
- Operational Constraints:
- Seasonal/Discount Periods:
Forecasting Methodology Implementation in Spreadsheets
1. Time Series Decomposition
Separate sales patterns into trend, seasonality, and residual components:
Spreadsheet Functions:
2. Regression Analysis
Establish relationships between sales and external factors:
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- Apply LINEST or regression tools (Data Analysis Toolpak)
- Weight factors appropriately based on statistical significance