Forecasting & Demand Management 2-Day Course

Improve Your Forecast Accuracy With Less Forecasting Effort

KEY BENEFITS OF ATTENDING

In this workshop, you will find out how to:

• AGGREGATE forecasting for Sales & Operations Planning
• ANALYSE forecasting, order entry & forecast accuracy approaches
• DEVELOP forecasting using trend & seasonality
• IDENTIFY and ELIMINATE deliberate forecast inaccuracy
• IMPLEMENT safety stock strategies using simple pareto, complex pareto & statistically derived safety stocks
• REINVIGORATE your product range, “is that business really worth it?”
• UNDERSTAND why new products fail & one way to fix it
• CREATE a simple safety stock/inventory level simulator
• UNDERSTAND the link to operations & purchasing
• OBTAIN “next practice” checklists to assist on your journey to best practice demand planning & sales forecasting

WORKSHOP OVERVIEW

This workshop will provide you with a step by step approach to achieving improvements in your forecasting process, the mistakes to avoid and sure fire approaches that will reduce your forecasting effort.

Accountabilities and cross functional links will be discussed to enable you to assess the quality of your current processes against world class checklists.

Options on “where to meet the customer” will also be addressed, including the strategies associated with setting safety stocks, your product offering and a simple approach to simulating stock levels.

WHO SHOULD ATTEND?

Practitioners in medium to large businesses involved in setting safety stock levels, achieving high levels of customer service, managing & reducing inventory levels, sales forecasting activities, sales planning activities & customer communications, sales & marketing personnel, demand & distribution management, staff involved in new product introductions & product portfolio management, range & business rationalisation, master schedulers, pre-S&OP and S&OP participants. Such as:

Demand Managers. Demand Planners.

Production Managers. Planning Managers.

Inventory Managers. Purchasing Managers.

IT Managers. Project Team Leaders.

Finance Managers. Project Team Members.

Staff responsible for sales forecasting.

Supply Chain Managers. Distribution Managers

Course Dates & Duration

23 - 24 Apr 2024

Classes are conducted daily, 9 am to 5 pm Sydney Time, totaling 16 training hours. Participants will join the training via ZOOM. Participants will earn 16 CPD points for certification maintenance.

Prices

ASCI Member: $1,950
Non Member: $2,350

Programme

DAY 1: DEMAND PLANNING & S&OP INTEGRATION

• Key principles of sales forecasting & demand management
• Reviewing aggregate sales forecasts for S&OP
• Understanding limits of control – process & demand
• Explaining the various S&OP 5-step approaches (Left to Right, Right to Left)
• Managing demand within an integrated business planning processMEETI
• Understanding the “laws” of forecasting
• A simple forecasting approach versus the most common 20 forecasting algorithms
• Forecasting for new products
• Understanding forecasting as a process
• Why “one set of numbers” is bad versus “one version of the truth”, odds & assumptions
• Scope of the demand management review
• Maximising the power of the “6 BOX”
• Beyond forecast accuracy into FLOWCASTING
• Stamping out bias – being wrong on purpose

DAY 2: DEMAND PLANNING PROCESS, PEOPLE & TOOLS

Understanding forecasts & their relationship with DRP, MPS, MRP & supply chain connectivity

Defining customer service measurements

• Proven safety stock strategies; Simple Pareto, Complex Pareto & statistically derived safety stock approaches
• Simulation approaches
• Forecasting focus for maximum results
• Financial integration
• Accountabilities for Sales Forecasting
• Key performance measures
• The various best practice checklists & their key differences: Basic, process oriented & behaviour oriented
• Other references
• Summary
• Questions