Fundamentals of Demand Planning
In a business environment characterised by agile and lean supply chains, accurate forecasts are critical to ensuring success. Proper demand management has become a critical factor in determining the competitiveness of any company. Understanding the forecasting processes and achieving accuracy are a necessity for any executive involved in the demand management process. Fundamentals of Demand Planning is a detailed overview of the principles of demand management, forecasting, and the relationship between forecasting and planning. The course demonstrates how effective demand management contributes to increased sales revenues and describes in detail the different models and techniques that can be used to achieve proper forecasts.
- The course duration is 2 full days.
- The course is presented in the form of a power point presentation.
- The course includes a Q&A session and some evaluation quizzes.
Who should take it
This course is directed to personnel with average or no knowledge of inventory management and demand forecasting techniques. It is designed for those individuals involved in optimizing their organizations’ stock levels to meet customer requirements and minimize inventory costs. The information presented proved very beneficial to Supply Chain Managers, Procurement and Purchasing Managers, Inventory Managers, Sales & Marketing Managers, Planning Managers and other personnel involved in these activities.
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