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Demand Planning and Forecasting

Intermediate

Learn the best methods and processes to improve forecasting

Course Code: TM173

Duration: 2 days

Overview

With any forecasting method it is often true that finding the best method for dealing with seasonality is a major factor in maximising forecast accuracy. The identification and forward projection of persistent trends in demand is always important, particularly for medium term forecasting.  And for companies that carry out frequent promotions, dealing with those promotions in the forecasting system often paramount.

Who Should Attend

This workshop is suitable for those who need to improve their planning and forecasting ability. It is mostly applicable to those in decision making roles across Purchasing, Marketing and Sales and key staff from other functions seeking to gain and appreciation of the role and processes of the demand planning and forecasting.

Benefits

This two day workshop is practical and non-academic, different approaches to sales forecasting are explored, including subjective methods, causal analysis and time series forecasting. Effective methods for dealing with the crucial matters of seasonality, promotions and new products are discussed. As well as the basics of forecasting it also covers forecast accuracy measurement, the use of EPOS data and stock policy including the calculation of safety stock for fast moving and slow moving items.

Learning Outcomes

  • The role of demand forecasting
  • Alternative approaches
  • Casual Analysis & Time series projection
  • Seasonal analysis. Patterns and indices
  • Critical business factors
  • Curve fitting & projecting sales trends
  • Moving Averages & Exponential smoothing
  • Promotions, & new products or services
  • Inventory Policies
  • Demand Management

Downloadable Resources

Course Outline

How to take this course

In-company Training

E Learning

Public Courses

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