Box - Jenkins Univariate Modeling procedure is presently
the most accurate statistical routine available to forecast
sales. This procedure is very good for forecast projections
for up to 2 years. A Time Series is fitted with a mathematical
model that identifies cyclical, seasonal, trend and
random patterns of data. Box - Jenkins Univariate models
require at least 3 years of historical data to be effective.
prediction of sales is vital in determining adequate
inventory levels, warehouse space requirements, logistical
requirements, sales promotion efforts, sales support
activities and production planning.