A Methodology for forecasting sales demand for toothpaste: The case of Colgate Palmolive (EA) Limited

Abstract

In this research, the researcher has looked at the importance offorecasting to the day-today decision making environment of managers and what the writers have said about forecasting and its impact on decision-making. The researcher went further and looked at the techniques of forecasting and how some have been tested in practice and the results of some surveys and researches done both locally and internationally. The researcher used three simple quantitative forecasting techniques on data collected from Colgate Palmolive (EA) Ltd, to test their ability to improve the accuracy of forecasting as compared to the current subjective technique of forecasting. Finally, the researcher found out that the quantitative techniques could actually be used to provide a guiding forecast, which can'then be moderated by expertise from the various departments to come up with a relatively accurate forecast.