Fundamentals Of Demand Planning

Course details

Inventory can be one of the most expensive assets of an organization and may account for more than 10% of the total revenues or 20% of the total assets. This course provides its attendees with an overview of the different techniques used to generate demand forecasts from sales history and the means to apply these forecasts to minimize inventory investments while increasing customer satisfaction. In a modern, lean supply chain, accurate forecasts are critical to achieving supply chain success. Today, there is greater realization for the value and need for competency in managing demand. Understanding of the forecasting process and requirements for an accurate forecast are a necessity for any executive involved in the demand forecasting process. This course will highlight in detail the principles of demand management, forecasting, and the relationship between forecasting and planning. The course demonstrates how effective demand management contributes to sales revenue growth and also describes in detail the models and techniques that can be followed to ensure an accurate forecast and a sustainable outcome.

Who Should Take it

This course is directed to executives with responsibilities in the manufacturing, retail, distribution and services industries. That includes Demand Planning/Management, Inventory Management, Supply Chain Management, Logistics & Operations, Sales & Marketing, Supply Planning/Management, Manufacturing as well as Scheduling & Planning.

Benefits:

Audience who has completed the course will:

• Have a fundamental understanding of demand management
• Have a fundamental understanding of the forecasting process
• Perceive the significance of the various statistical models and techniques used to prepare accurate demand forecasts
• Be able to apply simple tools and methods to produce more accurate and reliable demand plans
• Be able to increase communication and integration of planning teams

Course Structure:

Audience who has completed the course will:

• The course is presented in the form of a power point presentation including Q&A session and some evaluation quizzes.
• Attendees are expected to take notes as handouts are minimal.

Course Outline:

• Stocks and Inventories
• The Role of Forecasting in Managing the Supply Chain
• Demand Management
• Developing and Managing the Forecasting Process
• Sales and Operations Planning
• Collaborative Planning
• Forecasting Best Practices
• Forecast Model Selection and Management
• Forecasting through a Product’s Lifecycle
• Calculating Safety Stock Levels
• Measuring Forecast Accuracy
• Forecasting Best Practices
• Case Studies in FMCG and Spare Parts
• Interactive Session