AGISTIX CC

YOUR PARTNER IN SUPPLY CHAIN EDUCATION

FORECASTING

Introduction

Forecasting affects many aspects of company performance. Practical forecasting should be based on sound theory.

Target Group

This course is targeted at personnel with responsibility for forecasting. The are two main categories-those who forecast markets In order to ensure good customer service; and those looking at inventory levels in indirect materials stores, including engineering spares

Course Objectives

To introduce candidates to the concepts of forecasting. To develop personnel who are able to accept responsibility through the understanding of the requirements of their function, in order to contribute to the company’s customer service and inventory investment.

Duration

5 Days / 30 Hours

Entry Requirements

Basic literacy in English and a good ability in basic mathematics.

Key Learning Points

To give a basic understanding of the reasons for forecasting.

To analyze demand by type. To decide on the appropriate forecast horizon. To measure forecast error. To organize forecasting in a company

To forecast for families. To initialize a forecast. To carry out focus forecasting. To schedule the forecasting process.

To identify demand patterns, calculate a moving average, calculate forecasts using exponential smoothing, select alpha factors, and forecast items with intermittent demand

To calculate the mean absolute deviation, the standard deviation, and the co-efficient of variation.

To calculate a forecast using adaptive smoothing. To apply alternatives to the normal distribution. To calculate a forecast for products with trends. To calculate a tracking signal.

To forecast seasonal products

Liaison with other departments & outside agencies in order to obtain market intelligence to support quantitative forecasting. Specify collaborative forecasting system requirements and additional requirements for forecasting software

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Last modified: April 13, 2005