Which key element of a business plan will determine inventory,size of space required,and number of employees needed?
A) Financial planning
B) Comparing existing businesses
C) Sales forecasting
D) Setting goals and objectives
E) Identifying strategies and how to implement them

Question

Quizplus · Accepted Answer

Sales forecasting involves estimating the amount of products or services that the business will sell in a given period. Based on this estimate, the business can determine the amount of inventory it needs to have on hand, the size of the space required to store the inventory, and the number of employees needed to manage the inventory and meet customer demands.

Which Key Element of a Business Plan Will Determine Inventory,size