Planning & Forecasting – Premium Course

A comprehensive course that covers both qualitative and quantitative aspects such as the planning process and forecasting techniques.



You will leave this comprehensive 20 hours educational course with an understanding of forecasting techniques, including how they work and how to apply them in a real business environment. The training surveys the most commonly used business forecasting methods explains how they work conceptually, discusses their pros and cons, and demonstrates best practices for implementing them in a real-world environment using advanced planning system.

The core of the training is 1.5 hours of live interactive presentations presented over a 12-day period. During the live sessions you will have the opportunity to pose questions to the instructors in real time as well as interact with the other attendees.

This course aims to help the business planners better understand and master the process and methods of planning and forecasting

The course has been designed for a planning professional working as a part of the business functions like supply chain, finance or sales & marketing. The purpose of the course is to equip the planner with the basic principles of planning and business understanding of the quantitative techniques and their use

The course does not delve upon the mathematical derivations of the forecasting models or statistical computations of various coefficients and parameters. It is expected that the business planner would be using a planning software that assist in such derivations and computations.
Pre Requisites
  • Basic understanding of statistics
  • Basic understanding of planning process and business set up
Topic Details 

About Planning & Forecasting : Introduces the two most frequently misunderstood terms in this subject – plan, and forecast and briefly presents the contents of the course that are to follow. Topics include the importance of planning and forecasting, creating a baseline forecast, and bridging the gap, components in a typical business set up and introduction to the various techniques used for forecasting

Data cleansing & management : An exploration at the quantitative method of detecting outliers – Standard deviation and the qualitative one. Importance of analyzing outliers and understanding how to correct outliers

Exponential Smoothing Models : A survey of exponential smoothing techniques with particular emphasis on the Holt-Winters family of models. Topics include the pros and cons of using these models, when they are best used, how they work, identifying model components, parameter optimization, and model diagnosis

Box-Jenkins (ARIMA) Models : An exploration of the use of ARIMA models for business forecasting. Topics include the advantages/disadvantages of using these models, how and when they should be applied, automatic identification procedures, and model diagnostics

Simple & Special models : Topics explore some simple models like Simple Moving Average, SALY model, and some special and advanced models like Intermittent and Discrete model

Regression : A detailed look into the ins and outs of regression forecasting. Topics include when regression models are best applied, how to build the models, leading indicators, lagged variables, and the use of “dummy” variables

New Product Introductions : This session explores various approaches to forecasting new products. Topics include the pros and cons of different methods based on a product’s classification and a review of popular methods including item supersession, forecast by analogy, and the Bass diffusion model

New Product Strategies : Understand factors impacting New Products Introductions and use these factors for creating strategies for planning

Error Measurement : A detailed look at evaluating the accuracy of forecasting methods. Topics include a survey of error measurement statistics and an explanation of how to use both real-time tracking reports and simulations as predictors of model performance

Planning process & collaboration : Explore the key objectives of Planning process and understand the principles of S&OP and Integrated Business Planning collaborative approach. Further, understand the use of POS/Syndicate Data in planning

Replenishment Planning : This topic explores the important aspects of Supply Planning including setting the lead times, order cycle, service levels, safety stock and other important parameters of replenishment planning

Demand Sensing : This session explore various approaches for Demand Sensing. Topics include Firm Order Management functionality, Daily data to guide/update a monthly demand forecast, Causal Methods like social media mentions, Sensing using ‘external’ data such as POS data and from human collaboration

Reporting & Analytics : Approaches for focusing on critical items when forecasting large volumes of data. Topics include evaluating and forecasting SKU data, filtering, and ABC (Pareto) classification, exception reporting, and measuring accuracy across multiple products

Key Learnings
  • Forecasting process basics and best practices
  • Understanding various forecasting methods
  • Understanding forecast error measurements
  • New product forecasting methods
Methodology
  • Presentation explanation
  • Real experience sharing
  • System based demonstrations
  • Exercises
  • Question Answers
Take Aways
  • Certificate of Attendance
  • 15 days free access to the forecasting system

Hourly Schedule

7th August

3 - 4:30 pm IST
About Planning & Forecasting
Fundamentals of planning & forecasting

8th August

11 - 12:30 pm IST
Data cleansing & management
Learn how to prepare data for forecasting
3 - 4:30 pm IST
Exponential Smoothing Models
Understand the application of exponential smoothing family of models

14th August

3 - 4:30
ARIMA
Understanding the ARIMA model for forecasting

15th August

3 - 4:30 pm IST
Simple & Special models
Understanding the simple and special models like Croston's for forecasting

21st August

3 - 4:30 pm IST
Regression
Understand the application of linear regression in forecasts

22nd August

3 - 4:30 pm IST
New Product Introductions
Understand the new product forecasting methods

28th August

3 - 4:30 pm IST
New Product Strategies
Discussion on managing the different new product strategies in planning

29th August

3 - 4:30 pm IST
Error Measurement
Discussion on different error measurement methods

4th September

3 - 4:3pm IST
Planning process & collaboration
Discussion on the process best practices and stakeholder collaboration

5th September

3 - 4:30pm IST
Replenishment Planning
Discussion on how to effectively manage replenishment basis forecasts

11th September

3 - 4:30 pm IST
Demand Sensing
Discussion on incorporating demand sensing signals into forecasts

12th September

3 - 4:30 pm IST
Reporting & Analytics
Discussion on how to best present data and analysis

Date

Aug 07 2020

Local Time

  • Timezone: America/New_York
  • Date: Aug 07 2020

Cost

INR 18000 + GST

More Info

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