Demand Planning and Forecasting in SCM

INTRODUCTION

Demand planning is a vital procedure within Supply Chain Management (SCM) that maintains inventory supply continuity at the lowest possible cost. Effective demand planning will assist the SCM team in improving forecast accuracy, ensuring adequate inventory levels at all times, and increasing profitability by optimizing expenditures. The control side of this process ensures that plans are met and that essential actions are taken when necessary.

Demand planners are the ‘behind the scenes’ experts charged with this crucial job. Nobody notices them when they perform their work well. They will, however, be noted immediately if they fail to deliver, given the negative impact on customer service and the bottom line.

Many demand planning theories, models, and best practices will be presented in this course to aid participants in dealing with diverse future situations to maintain continuous inventory flow at the lowest feasible total cost.

COURSE METHODOLOGY

This course is designed in the form of workshop which will includes a variety of learning tools to help participants function effectively and efficiently in a multifunctional environment through various methodologies including;

• Short lectures
• Brainstorming
• Case studies
• Group activities
• Role playing

COURSE OBJECTIVES

The attendees of this Certificate Program will be able to:

• List the inventory management objectives and their influence on cost and customer service.
• Prepare correct inventory categorization and follow best practices for item definition and cataloguing.
• Use forecasting tools to better manage lead times and estimate demand.
• Calculate the optimal ordering amount, as well as safety stocks and reorder points.

WHO SHOULD ATTEND THIS COURSE?

• Senior managers
• Supervisors
• Supply chain manager
• Business professionals
• Anyone who is interested to improve public speaking.
• Employees who are involved in operational and supervisory inventory or demand planning and stock control

TARGETED SKILLS

• Logistics theory and practices
• Planning and logistics work processes
• Inventory management
• Assessment and planning of requirements
• Demand planning
• Warehouse management