DESIGN AND IMPLEMENTATION OF A SALES FORECASTING SYSTEM USING LINEAR REGRESSION MODEL
The research work “Sales -Forecasting System” is a sales system using ‘point of sales ( POS ) technology to achieve its sales, accounting and linear regression model for sales forecast included in the system is the supplier registration and management, product registration and management, user management, customer management sales report, receipt printing and sales forecasting. This work was done as a result to solve the problems usually encountered in most companies. The Employee Management System was achieved using two programming environment: PHP and MYSQL, with php as front-end and mysql as the backend database. The system can be entered using a username and password. It is accessible either by an administrator or staffs. The interface is very user-friendly. protected for personal use and the data processing is very fast.
CHAPTER ONE: INTRODUCTION
1.1.0 GENERAL INTRODUCTION
Forecasting is the process of making predictions of the future based on past and present data and analysis of trends. Sales forecasting is the ability to forecast future sales base on past months sales.Sales forecasting system uses several proven models such as qualitative versus quantitative model, average approach model, casual /econometrics forecasting model, linear regression model etc., these model are proven models use over the years by different financial institutes.
Chapter one introduces the research work and the problem definition of the research, and to know the aim of this research work, research justification tells us why it is important to research on this topic; it also covers areas like scope and limitation of study which entails the boundary of this work. Definition of terms gives summarize what each chapter entails.
1.3.0 PROBLEM DEFINITION
This research work was undertaken to uncover some of the problems with conventional sales forecasting management systems. Where accountant has to calculate using a specific sales model formula in forecasting on a regular basis. Using these conventional method pose lots of constraint on sales forecasting as it takes lots of time forecasting using which ever model is adopted by the sales manager or accountant or financial adviser.
1.4.0 OBLECTIVE OF STUDY
In view of the problems mentioned above, this project is aimed at implementing a sales forecasting system using linear regression model and with an added POS system
- Manage and forecast sales
- Automate customer, product, supplier management on the system
- Manage system access and roles on the system
- Manage every users of the system