Demand Forecasting — 2 days
Available as a tailored, in-house programme
Getting benefit from forecasting depends upon matching the techniques and level of detail to the business and establishing an effective process. This course offers a framework for understanding the forecasting process and for selecting the appropriate tools and techniques. It gives delegates the opportunity to explore this framework and to practice some of these techniques.
For more information, use our contacts form to send us a message.
Who Will Benefit?
Sales/Marketing Directors, Sales Managers, Logistics Managers, Forecasters, Inventory Managers, Master Schedulers, and Planners. The course assumes delegates will already have a basic understanding of the roles of sales, marketing and logistics within a business. Some knowledge of basic statistical concepts is helpful but not essential.
What Will The Course Cover?
- Why forecasts are necessary and what they are for
- Characteristics of a good forecasts
- Chance, variation and basic statistical concepts
- Simple statistical forecasting techniques
- Subjective versus objective forecasting
- Forecasting as a business process
- Causal factors
- Scenario modelling and forecasting pyramids
- Advanced statistical techniques
- Product segmentation for efficient forecasting
- How to improve forecast accuracy
What Will Delegates Gain?
The course is designed to focus on the strategic aspects of forecasting as well as the practical aspects of producing a forecast. It will provide an understanding of how to:
- focus on the real variables in the market;
- understand how the forecast is performing;
- develop credible, relevant and appropriate techniques for managing sales and market information;
- establish an effective, routine forecasting process.