Determinants of Sales Forecasting Performance in Retail Chains: An Empirical Study from Central-Eastern Europe

Authors

  • Jiří Šindelář Dept. of Management, Faculty of Economics and Business, Czech University of Life Sciences in Prague

Keywords:

Sales forecasting, Retail chains, Forecasting performance, Organizational behaviour, Supply chain management

Abstract

Salesforecasting plays crucial role in management of distribution systems,especially in retail chains based on integrated supply chain. Yet although manypapers were introduced on various forecasting aspects, predominantly regardingsituational and methodological parameters, evidence giving a comprehensivepicture of a forecasting system is still rather sparse. In this paper, effectof selected factors on indicator of sales forecasting performance is evaluated:first open research interviews were conducted to identify a total of 15potential factors, then significance tests with correlation analysis wereapplied to determine their effect on forecasting performance. The results showthat a comprehensive approach to forecasting management is vital, stressing theimportance of performance evaluation and information systems. Social-moralefactors, formal education and domain work experience, on the other hand, werefound to be of much less importance. Empirical evidence was provided by anextensive survey that involved 148 forecasters from 7 multinational companiesoperating in the Central European region.

Author Biography

Jiří Šindelář, Dept. of Management, Faculty of Economics and Business, Czech University of Life Sciences in Prague

Jiří Šindelář is an executive director of the Union of Financial Advisers and Intermediaries,Czech Republic and assistantprofessor of the Department of Management, Faculty of Economics andManagement, Czech University of Life Sciences. His fields of interest consistmainly of forecasting and planning in retail distribution networks,particularly regarding system differences between diverse channels, markets andregions. He has been involved in several research projects on Czech retailingand the food processing industry, as well as financial intermediation.

Downloads

Published

2014-01-01

How to Cite

Šindelář, J. (2014). Determinants of Sales Forecasting Performance in Retail Chains: An Empirical Study from Central-Eastern Europe. International Journal of Economic Practices and Theories, 4(1), 1-16. Retrieved from http://ijept.eu/index.php/ijept/article/view/Determinants_of_Sales_Forecasting_Performance_in_Retail_Chains

Issue

Vol. 4 No. 1 (2014)

Section

Articles

License

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.

  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.

  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).