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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.

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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.

education and training

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