Forecast future levels of business

Predict how the business will perform in future, potential expenditures and revenues to project situations for future periods

forecast future of business levels
forecast business’ future level
create sales forecasts
anticipate future levels of service

skill/competence

cross-sector

Forecast future levels of business is an essential skill of the following occupations:

Forecast manager: Forecast managers have a deep understanding of the operations of the company, the inventory levels, production batches, requirements and costs of production per product, and trends in the demand levels. They use all that information in combination with forecasting software in order to define production orders aiming for the most efficient production combinations.

Forecast future levels of business is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Head chef: Head chefs manage the kitchen to oversee the preparation, cooking and service of food.
Credit adviser: Credit advisers offer guidance to customers related to credit services. They assess the customer’s financial situation and debt issues arisen from credit cards, medical bills and car loans in order to identify optimal credit solutions for customers and also provide debt elimination plans to adjust their finances if needed. They prepare qualitative credit analyses and decision-making material in respect of defined customers in conformity with the bank’s strategy on credit policy, ensure the credit quality and follow up on the performance of the credit portfolio. Credit advisers also have expertise in debt management and credit consolidation.
Insurance rating analyst: Insurance rating analysts analyse information related to insurance markets and their credit rating, prepare rating reports and invoices, compile financial data and present and explain credit rating opinions to stakeholders, clients and external parties. They work for insurance companies and calculate the insurance premium and rates for the company’s clients using both manual and automated methods.
Supply chain manager: Supply chain managers plan, manage and coordinate all activities related to the sourcing and procurement of supplies needed to run manufacturing operations from the acquisition of raw materials to the distribution of finished products. The supplies can be raw materials or finished products, and it can be for internal or external use. Moreover, they plan and commission all the activities needed to be performed in manufacturing plants and adjust operations to changing levels of demand for a company’s products.

References

1. Forecast future levels of business – ESCO