Forecasting is simultaneously one of the most important and challenging aspects of launching a new product line for your business.

When you create product and sales forecasts, you can use market information and your previous launch data to determine the potential rate of sale for your products and the amount of inventory you should keep on hand to fulfill customer demand. If you launched a similar product to a similar audience in the past 12-18 months, you can expect the results of your new product launch to mimic your previous launch or launches. If your market has changed in the last 12 months, you can use market data to determine what changes might have disrupted your industry or market since your last launch. If your new products are in line with the shifts in the market and customer preferences, you can expect similar results to your previous product launches.