Demand Planning
Demand planning is a process used to create reliable forecasts in supply chain management. Through improper planning, businesses can risk overstocking or understocking which can impact on revenue. Demand planning helps to control the levels of inventory, as the change in demand for the product rises and falls.
In this module you will learn methods for forecasting demand and how to measure and manage demand uncertainty. You will also learn how to consolidate and communicate demand as an input for supply planning and sales & operations planning. Get familiar with the concept of collaborative planning, forecasting and replenishment (CPFR).
Following are the eLearning courses for Demand Planning –
Demand Forecasting – Definitions | Learn about key considerations of making a forecast and ensure it has the most impact. Understand different types of forecasting methods and how different departments use the forecast so that they best meet the organization’s needs. |
Demand Forecasting – Quantitative Methods | Learn how to make accurate forecasts by using trends, cyclicality and seasonality and apply critical thinking to separate patterns from noise. Learn how and when to use quantitative forecasting methods such as the naïve, average, moving average, weighted moving average, and exponential smoothing. |
Demand Forecasting – Qualitative Methods | Use the inside information of experts, executives, and customers themselves to make your forecasts more complete. Learn how to use qualitative forecasting methods such as the Jury of Executive Opinion, Delphi, and Salesforce composite. Understand when to use customer surveys and test marketing to enhance forecasts. |
Creating Consensus Forecasts | Learn how to create a highly accurate consensus forecast – one that combines different sources of information. You will learn about top-down and bottom-up forecasts. Bring information from different departments together to create the best possible demand forecast. |
Measuring Forecast Accuracy | Learn how to measure accuracy of the forecast and determine how large (Mean Absolute Percentage Error) and in which direction (forecast bias) your errors are. Learn which forecasts to measure, how often to measure, and which levels to measure. |
Improving Forecast Model Accuracy | In this course you will learn about how to improve your forecasting model by keeping it updated, using the right data, separating out products with different patterns, and more. |
Improving the Forecasting Process | Learn how to influence business practices that may be the root cause of forecast inaccuracy. Understand how to diagnose and solve problems in the process of demand forecasting. Learn how to use Big Data and the Internet of Things to improve forecasting accuracy. |
Advanced Time Series Methods | Learn advanced methods such as Holt’s 2-factor method, and the Holt-Winters method in a simple, clear way. This course explains how to use damped trends to ensure your forecasts stay accurate longer. |
Using Simple Regression in Forecasting | Improve the accuracy of forecasts by identifying factors such as advertising that affect demand, and calculating the impact they have on demand. |
Using Multiple Regression in Forecasting | Further improve the accuracy of forecasting by accounting for many different causal factors, such as advertising, discounts, and the state of the economy. Test how good your forecasting model is. |
Forecasting for New Products | Market sizing, bass diffusion model, market intelligence, expert opinion and other methods for determining demand for new products. |
Collaborative Planning, Forecasting and Replenishment | Overview of customer collaboration and the CPFR process, how CPFR creates value for the customer and the company. |
Demand Supply Planning Metrics | How to measure performance in demand forecasting and Supply Planning. Why measurement is important. |
