PGPCDF - Professional Growth Program: Course in Demand Forecasting Training Course

Overview

Duration: 5 days
Professional Growth Program” series of education is aimed at professionals to be able to get deeper understanding of concepts on which businesses and ERPs (like SAP) runs to improve their own individual performance and performance of their organizations.

In today’s VUCA (volatile, uncertain, complex and ambiguous) world it has become more and more difficult to predict and manage demand. It has become difficult due to complex global supply chain, reduced customer delivery expectation time, higher product variety, high product customization, reduced product life cycle, reduced transaction friction, increased competition, etc.

This program covers various practice-oriented business forecasting models from strategic business planning to operations planning. Participants will be benefited with focused and practice-oriented knowledge of various forecasting methodologies resulting in their improved ability to forecast demand for organizations they work for. As a result, their organizations would experience increased customer satisfaction, reduced stock outs, scheduling supplies more effectively, reduced safety stock, reduced product obsolescence cost, better shipping performance, etc.

Objectives

  • Benefits to individuals include more practice oriented knowledge, better job readiness for the corporate world, improved performance on the job, ability to use ERP (like SAP) better, added advantage when applying for jobs, greater preference by corporates, etc. All of these would obviously lead to higher pay and faster job placements. 
  • Benefits to organizations include better trained work force, improved ROI on ERP / technology investments, etc. All these would obviously lead to better productivity, effective business processes, reduction in errors and rework, etc. that would add to competitive advantage, growth and profitability.

Content

Basic (Level 1) 

  • Introduction of demand forecasting.
  • Why to forecast. Items to forecast.
  • Demand forecasting basics.
  • Categories of forecasting techniques.
  • Show forecasting accuracy in some industries.
  • Where forecasting fits in Manufacturing Planning and Control system. Demand Forecasting (Strategic, Tactical and Operational).

Intermediate (Level 2) 

  • Qualitative Forecasting Techniques.
  • Extrinsic Quantitative Forecasting Techniques.
  • Pyramid Forecasting.
  • Forecasting Steps.
  • Forecasting for tactical planning.

Advanced (Level 3) 

  • Intrinsic Quantitative Forecasting Techniques.
  • Focus Forecasting. 
  • Demand sensing. 
  • Measures of Forecast Error. 
  • Measure of Demand Variability. 
  • Model validity. 
  • Safety Stock Calculation. 
  • Forecasting for operational planning.

Audience

  • Vice President – Sales & Marketing 
  • Demand Managers 
  • Product Managers 
  • Marketing Managers 
  • Sales Managers 
  • Sales Executives  
  • Sales & Operations Planning (S&OP) 
  • Coordinators 
  • Master Schedulers 
  • Supply / Production Planners 
  • Material Planners  
  • Production Managers 
  • Distribution Managers 
  • Logistics Managers 
  • Sourcing Managers 
  • Purchase Managers 
  • Cost Controllers 
  • Cost Accountants  
  • Master Data Maintenance Team Members  
  • Business Analysts / Business Consultants  
  • Information Technology Consultants supporting above functions

Prerequisites

Participants must have basic knowledge of business management concepts and process flows especially in materials management domain.

Certification

Trainocate Certificate of Attendance

Schedule

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