Demand Management and Its Forecast Techniques

Overview of workshop:

Demand management is one of the critical business processes for boosting revenues. Today, a large number of companies are focusing on developing the tools for this management. Two very important factors, namely customer retention, and company financial performance, largely depend on its management. As a result, the need to adhere to demand management best practices for improving the overall performance of the business for the end-to-end supply chain has increased.

It also provides a solution for all the functions that are affected by the demand management process. But before digging deeper and explaining how to improve your demand management processes, let’s understand the concept of demand management. You can grab this opportunity to understand by attending training, workshops, etc.

In other words, demand forecasting in the supply chain is a process used by organizations to determine potential future requirements of customers. Forecasting means the process of predicting a future event based on historical data. Forecasting figures are usually determined by analyzing historical sales data and trends, being aware of market variations such as new trends, seasonal variations and new products that are brought into the market by potential competitors, all of which can impact consumer demand. For forecasting demand, the inputs are taken from sales and marketing, finance, and production. The final demand forecast is the consensus of all participating managers.

An important issue in forecasting is choosing the most appropriate techniques. Examples of qualitative techniques include expert opinion, market surveys and Delphi method. Quantitative approaches include time series modelling and rely on ‘hard’ information that eliminates most personal bias attributed to qualitative techniques. Virtually every business is based on forecasting. Not all of them are derived from sophisticated methods. However, “Best" educated guesses about the future are more valuable for the purpose of Planning than no forecasts and, hence, no planning.

Please learn relevant elements of “Demand Management and Its Forecast Techniques” and contribute to the organization you work for or own.

Contents of workshop:

DAY--1

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1. Introduction to program & learning objective
2. Demand Management: Definitions and Key Concepts
3. Demand Management in Supply Chain Management
4. Benefits of Demand Management
5. Demand Management Questions
6. Types of Demand
7. Factors Affecting Demand and Supply
8. Demand Patterns/Characteristics
9. Demand Forecasting: Key Concepts
10. Demand Forecasting Examples and Its Importance
11. Methods/Ways/Techniques of Demand Forecasting
12. Quantitative Analysis and Various Forecasting Techniques
13. “Moving Straight Averages” Technique
14. “Moving Weighted Averages” Technique
15. “Moving Exponentially Weighted” Techniques
16. Impact of Seasonality in Forecasting Demand
17. Demand Forecasting- Simple and Multiple Linear Regression
18. Demand Forecasting Process: 3 Phases
19. Bill of Materials (BOM)
20. Questions & Answers Session
21. Learning check
22. Wrap up of the day

DAY--2

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1. Material Requirement Planning (MRP)
2. Distribution Recourse Planning-Time Bucket Matrix
3. All Forecast Techniques in One Table
4. Three Phases in the Forecasting Cycle Process
5. Make-to-Stock, Make-to-Order, Assembled-to-Order
6. Aggregate Planning and Master Production Schedule
7. Strategy to Meet Demand: Level, Chase, Mix and Price
8. Strategy in Respect of Demand and Capacity
9. Supply Chain Management (SCM): Bullwhip Effect
10. Causes of Bullwhip Effect
11. How to Cope Up with Bullwhip Effect
12. SCM Uncertainty Framework
13. Sales and Operation Planning (S&OP)
14. S&OP- Step by Step Process
15. S&OP- Data Gathering
16. Inventory Management- Key Concept
17. Inventory Replenishing System
18. Calculation of Safety Stock
19. Case study
20. Question-answer session
21. Learning Check
22. Wrap up of the Session

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• Group Discussion
• Question & Answers Session
• List of related book reference
• Certificate Distribution

Methodology:

Interactive discussion, Brain Storming, Exercise, PowerPoint presentation, Question and Answer session, Debate and Role play.

Note: Seats are limited and will be filled-in on first come first serve basis. Please find the attached file for Registration Form.