Principles Forecasting and Demand Management Education Program
Now more than ever, especially in a difficult economy, it is imperative to have a better handle on the operations and what drives it, good forecasts & plans. The result can equal millions of dollars added to the company’s cash flow and bottom line.
Much of the success of enterprise planning and decision making depends on the formulation of accurate forecasts. Forecasting permits firms to establish performance measurements for customer service, plan the level of total inventory investment, choose between alternative operating strategies, and develop assumptions about the stability of the business to respond to the future needs of the marketplace. This one-day workshop will focus on Forecasting and Demand Management.
Development and maintaining accurate forecasts is critical to effective decision making at all levels of the organization. Effective forecasting will enable the firm’s managers to accurately project expected demand on the business’s resources. Topics discussed include:
- Forecasting functions
- Four levels of forecasting
- Defining demand
- Universal principles of forecast management
- Forecasting process
- Benefits of forecast accuracy
- Qualitative, quantitative and causal forecasting techniques
- Why forecasts fail
- Case study & discussion questions
This continues the discussion on forecasting by focusing on understanding, determining and working with forecast error. Included is a deeper investigation into customer and demand management – centering on a review of customer relationship management (CRM) and how it assists in the development of the overall demand plan that will be transmitted to sales and operations planning (S&OP) and master production scheduling (MPS). Topics discussed include:
- Defining demand management
- Components of demand management
- Demand management in the MPC system
- Forecast performance
- Calculating and measuring forecast error
- Mean and standard deviation of forecast error
- Customer relationship management (CRM)
- Customer service management
- Demand management technology tools
- Demand management performance
- Case study and discussion questions
- Forecasting Managers
- Demand Managers
- Material Planners
- Production Planners
- Sales and Marketing
- Customer Service
- Middle Management
At the KnoWerX Education Pvt Ltd, we offer training brought to your location, saving you travel costs and expanding training opportunities to include employees that would otherwise be unable to travel. Our emphasis on improving your company’s demand planning, forecasting, and S&OP methods and processes will have an immediate impact on your company. KnoWerX senior educators will use their wealth of real-world experience to provide valuable education for empowering employees, uniting departments, gaining consensus, minimizing inventory and improving customer fulfillment & retention during any market condition. Plus, it is geared towards professionals of all levels!
Please contact KnoWerX Education Pvt Ltd on +91 77389 email@example.com for registration and training outline.
Advantages of KnoWerX’s Corporate In-House Training:
- Benchmarks & Best practices: Get access to valuable benchmarking data, as well as best practices that successful companies are using to win in this turbulent economy. Identify the gaps in regards to your people, processes, and technology and learn what action plans are required to correct them through hands-on learning.
- Save Money & Unlock the Power of your ERP / Demand Planning Solution: Learn to leverage the power of your ERP for improved demand planning & forecasting. Most companies only utilize a small percentage of their system’s features.
- Valuable Bonus Materials: Case studies, exercises, data-sets, templates, and complete presentation slides
- Time and Location Flexibility: Workshops can be held at your office, or any location in the world at any time with adequate notice.
- 10 People or More: Enroll up to 10 employees for the same flat fee plus expenses (greater than 10 extra)
- Supply Chain Impact: This program will benefit those on the supply chain side looking to understand how demand planning drives decisions.
- Demand Planning & Forecasting Audit (Optional): Let the experts review your processes, data, and people as compared to Best Practices and quickly identify the opportunities to preserve cash at an added cost.
Plus, our focus on Sales & Operations Planning (S&OP) and the role of Demand Management will guide you and your colleagues through implementing techniques that will immediately help your company to reach its goals
KnoWerX’s training program is a comprehensive curriculum that is based on over 25 years of researching and fostering the recognition and growth of demand planning, forecasting, and S&OP. At the same time it is continuously reviewed to ensure it matches the needs of businesses and practitioners today. Please contact KnoWerX Education Pvt Ltd on +91 77389 firstname.lastname@example.org for registration and training outline.