Financial forecasting strategy among pharmacies during pandemic in Davao City

Abstract

This study aims to determine the financial forecasting strategy among Pharmacy during pandemic. The surge of covid-19 pandemic has greatly affected pharmacies, to meet the demands of the customers they had to formulate an effective financial forecasting strategy. This study used a quantitative research method and stratified random sampling. We conducted a survey through questionnaire specifically to those small type pharmacies within Davao City. We have collected and classified the demographic profile of the respondents to business type and average income. The researcher used frequency, mean, and analysis of variance (ANOVA) to determine their significant difference. For business types, it includes sole proprietorship, partnership, and corporation. In the average income, we provide the ranging values to determine their monthly average income. There are two identified financial forecasting strategies namely fixed forecasting and rolling forecasting. The result of the study shown in the level of financial forecasting strategy, rolling forecasting has the highest mean than fixed forecasting. Also, it appeared that the financial forecasting strategy is influencing the Pharmacies performance during pandemic.