Description

Introduction to Demand Forecasting

Introduction to Demand Forecasting
MP4 | Video: AVC 1280×720 | Audio: AAC 44KHz 2ch | Duration: 1 Hours | Lec: 5 | 98 MB
Business Forecasting – Introduction to the Demand Planning Business Function and Associated Terminology

This course introduces the business function of demand forecasting, its associated terminology and how demand is expressed in an organisation. It also covers the difference between historical data and forecast data, the basic statistical concepts used within this discipline including how to derive a forecast function and some of the common forecasting methods such as exponential smoothing, Holt-Winters and others. The course then goes on to look at why demand planning is important to an organisation with examples from various industries including retail and manufacturing. Finally it provides information on types of supply chain models which can be used as part of a demand planning strategy

The purpose of this course is to provide an introduction to business forecasting terminology and concepts as well as how businesses plan their demand.

Demand forecasting is a key component of the overall supply chain planning process. It is frequently perceived as one of the most difficult and challenging aspects of this process, but should be considered as an integral component from the outset. This course is designed to provide an introduction to forecasting and its relationship with other supply chain functions.

Demand forecasting is an important part of supply chain management. Demand forecasting is a key activity for many organizations, and can provide significant benefits for companies. Demand forecasting will provide information about the future demand for products, services and or resources in order to help organizations take action appropriately before it’s too late.