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

they are a leading provider of supply chain services whose customers and partners are geographically spread across the globe. With offices in Dubai, Jeddah, Johannesburg, Singapore and Beirut, they offer a wide range of services and are recognized in the market by their proven track record of successful projects. When working with us, you are working with an expert team of operational and technical consultants, highly knowledgeable in the supply chain and logistics domain.

their services range from consulting and training to recruitment, solution development, implementation, systems integration and systems support. By partnering with leading multinational providers, they ensure that ytheir requirements are always met and then exceeded by applying the best practices in the field. their aim is to build and maintain a strong relationship with their customers based on trust, honesty and integrity.

their pledge to you is that their primary objective will always be to minimize ytheir logistics costs, increase ytheir visibility and control over ytheir supply network and maximize the productivity and efficiency of ytheir human restheirces. At SNS, their people set us apart and hence are their most valuable assets. They are selected from the most prestigious universities in the region after a careful and thorough screening process. To secure their guarantee of offering you only the best, they constantly invest in their associates by providing them with regular trainings, coaching programs and exposure to a large variety of challenging projects.

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