Demand Management and Forecasting

Course Info

Length: 1 Week

Type: In Classroom

Available Dates

Venue

  • May-27-2024

    Singapore

  • May-27-2024

    Paris

  • June-03-2024

    Dubai

  • June-03-2024

    Barcelona

  • June-10-2024

    Amsterdam

  • June-10-2024

    London

  • June-17-2024

    Istanbul

  • June-17-2024

    Kuala Lumpur

  • June-24-2024

    Singapore

  • June-24-2024

    Paris

  • July-01-2024

    Dubai

  • July-01-2024

    Barcelona

  • July-08-2024

    Amsterdam

  • July-08-2024

    London

  • July-15-2024

    Istanbul

  • July-15-2024

    Kuala Lumpur

  • July-22-2024

    Dubai

  • July-22-2024

    Paris

  • July-29-2024

    Barcelona

  • July-29-2024

    Singapore

  • Aug-05-2024

    Dubai

  • Aug-05-2024

    Barcelona

  • Aug-12-2024

    Amsterdam

  • Aug-12-2024

    London

  • Aug-19-2024

    Istanbul

  • Aug-19-2024

    Kuala Lumpur

  • Aug-26-2024

    Singapore

  • Aug-26-2024

    Paris

  • Sep-02-2024

    Barcelona

  • Sep-02-2024

    Dubai

  • Sep-09-2024

    Amsterdam

  • Sep-09-2024

    London

  • Sep-16-2024

    Kuala Lumpur

  • Sep-16-2024

    Istanbul

  • Sep-23-2024

    Paris

  • Sep-23-2024

    Dubai

  • Sep-30-2024

    Singapore

  • Oct-07-2024

    Barcelona

  • Oct-07-2024

    Dubai

  • Oct-14-2024

    London

  • Oct-14-2024

    Amsterdam

  • Oct-21-2024

    Istanbul

  • Oct-21-2024

    Kuala Lumpur

  • Oct-28-2024

    Paris

  • Oct-28-2024

    Singapore

  • Nov-04-2024

    Dubai

  • Nov-04-2024

    Barcelona

  • Nov-11-2024

    Amsterdam

  • Nov-11-2024

    London

  • Nov-18-2024

    Istanbul

  • Nov-18-2024

    Kuala Lumpur

  • Nov-25-2024

    Paris

  • Nov-25-2024

    Singapore

  • Dec-02-2024

    Dubai

  • Dec-02-2024

    Barcelona

  • Dec-09-2024

    London

  • Dec-09-2024

    Amsterdam

  • Dec-16-2024

    Kuala Lumpur

  • Dec-16-2024

    Istanbul

  • Dec-23-2024

    Paris

  • Dec-23-2024

    Dubai

  • Dec-30-2024

    Singapore

  • Dec-30-2024

    Barcelona

Course Details

Course Outline

5 days course

 

Keys to successful forecasting process and function
 
  • Problems and Needs

  • Goals and Objectives

  • Coordination and Leadership

  • Process Management

  • Forecast Model Development

  • Communication with Participants and Users

  • Four Forecasting Process Approaches

  • Independent

  • Concentrated

  • Consensus

  • One Number

  • Myths About Forecasting

  • Silo Forecasting Impact on Organization

 

 Data patterns and demand variability
 
  • The Bullwhip Effect

  • Demand Variability and the Methods to Minimize It

  • Recognition of Data Patterns

  • What kind of problems to look for in the data and how to treat them

 

 Inputs and outputs of demand plan
 
  •  Profit Potential

  •  Risk Management Input

  • Operations Planning

 

 Forecasting models: Qualitative / Quantitative
 
  •  How much data to use for different statistical models

  • Subjective assessment models overview

 

Time series models
 
  • Inherent assumptions

  • When time series work and when they don’t

  • Time series elements: Level, Trend, Seasonality, Cyclicality, Noise

 

Cause and effect models
 
  • Regression models

  • When to use regression models

  • Steps in development

  • Key assumptions

 

Minimizing forecasting error
 
  • Forecast error metrics

  • Uses of forecast error measures

  • Sources of error

  • Error analysis, communication and remediation

  • Exception driven forecasting process

  • Relationship between MAPE / Bias, Customer Service and Inventory KPIs

 

 New product forecasting
 
  • New product success and error rates

  • New product success and failure factors

  • Issues to consider when developing new product forecasts

  • Qualitative and Quantitative methods used in new product forecasting 

 

 

Promotions forecast
 
  • Promotions forecast error rates

  • Manage the process for unplanned and abnormal demand

  • Factors, issues, and considerations in developing romotions forecasts

  • Cannibalization impact of promotions on base / open stock SKUs

 

Worst forecast practices summary and discussion
 
  • Worst practices in the mechanics of forecasting

  • Worst practices in forecasting process

 

 Best forecasting practices summary
 
  • Forecasting process

  • Data collection and analysis

  • Methods and models

  • Software and systems

  • Communications & People

Course Video