Supply Chain Management Demand Planning and Forecasting

Course details

Demand Planning & Forecasting is an important field of supply chain management, they both are art and science. It requires informed judgment, business expertise, and technical skills. Done well, it can provide a true competitive edge and increased sales, while managing inventory and maintaining best-in-class customer service. Forecasting depends on both a structured process and modeling. Both are equally important. In this program, we will describe not only the fundamentals of forecasting and planning, but also why the forecasting process is important and what role it plays in demand planning.

Program Contents

• What is the supply chain management and why it is important?
• What we need to know about demand planning & forecasting?
• Why we need forecasts and what role do they play in the supply chain?
• Effectively create and launch demand planning process
• Strategic planning and demand planning
• Demand planning as part of the company directions
• Qualitative or a quantitative forecasting methods
• The effective forecasting
• The importance of having a forecasting process in place
• The role of technology and modern techniques in demand planning

Key Benefits

At program completion participants will be able to:

• Identify the key elements of demand planning, and demand forecasting and how they interact
• Explain the critical role of technology to facilitate planning process for business
• Apply strategies for establishing efficient and effective demand planning and demand forecasting
• Effectively share knowledge and optimal forecast to better guide the company.
• Assess the performance demand planning and forecasting processes
• Execute with excellence in the area of customer replenishment and feedback the Supply Chain group with opportunities and risks regarding customer replenishment performance metrics.