Demand Forecasting and Inventory Planning
This two-day interactive course is designed to provide participants with the knowledge and skills needed to achieve and maintain an optimised inventory profile through improved forecasting and knowing which inventory models and metrics are best for different product types.
Do you need to reduce stock investment, but improve on-shelf availability?
All managers in a supply chain planning environment are challenged to improve the match between supply and demand and to increase availability and customer satisfaction whilst reducing overall stock investment.
In this two-day course we will de-mystify the science of sales forecasting, show you how different models work and what they are capable of achieving. Most importantly you will leave the course with the knowledge and confidence to make a step difference to the way your business carries out demand and inventory planning.
Structured around a programme of lectures, group discussions and workshops this two day course will facilitate the sharing of experiences between delegates as well as enable participants to explore specific issues relevant to their own businesses. Delegates will also have the opportunity to bring examples of their own product demand or usage data to test using different forecasting methods.
Who is this course for?
- Managers and planners responsible for demand and inventory plans
- Supply chain analysts and consultants looking to improve their understanding of forecasting and inventory planning and control
- How to build an integrated planning process
- How popular statistical forecasting techniques work
- Which inventory control models to use and when
- Selecting the best models for your products
- Strategies to improve the match between supply and demand
- Different forecasting tools and techniques
- Which forecasting models are best for your products?
- Essentials of S&OP and CPFR
- The pros and cons of different inventory needs
- Managing inventory in the supply network
- Achieving an optimised inventory profile
- Understanding of how forecasting and inventory methods and systems work
- Knowledge to help you drive inventory optimisation in your own company
- Insight into how collaborative planning can improve the match between supply and demand
- An excel-based forecasting simulation model to “take-home” and test on your own product data
Chris Rutherford is an Associate Professor of Supply Chain Management in the Logistics Research Centre at Heriot-Watt University. Over the last 20 years Chris has worked with industry and academic leaders researching and developing demand and inventory planning solutions. This course offers participants the opportunity to share in Chris’s knowledge and learn from the experiences of other participants.