Sales Forecasting of Products with Very Short Life Cycles

Rapid technological developments and changes in the market dynamics have not only dramatically shortened the life span of products but also changed the shape of their life cycles. Pre-orders play an important role in determining the success and failure of a new product. In this article, the author describes the changes that have occurred in the life of new products, as well as what steps should be taken for forecasting their demand, particularly of products with a very short life cycle. RUDOLPH PIZZANO | Dr. Pizzano is president of RoadMap Technologies, Inc., a supplier of the RoadMap GPS software for demand forecasting and business planning. He has 25 years of experience in sales forecasting in North America, Europe, and Asia across a wide range of industries, including pharmaceuticals, FMCG, and consumer electronics. He received his Ph.D. degree in Business Economics from the Harvard Business School. N N ew products are the engine of growth. Every six to eighteen months, faster, better, and cheaper hi-tech appliances, gadgets, and computational devices are introduced in the market. Although the consumer always benefits from the latest and greatest products, forecasting for high ...