Demand Forecasting Training: Data-Driven Strategic Planning and Forecasting Methods
Demand fluctuations, leftover end-of-season stock and stock-outs on popular products… The common cause of these problems is low-accuracy forecasting processes. Grupas' Demand Forecasting training enables businesses to understand the core concepts in demand forecasting processes; it teaches how to build effective demand forecasting strategies using data analysis and predictive models.
The program covers an introduction to demand forecasting, types of forecasting, qualitative and quantitative methods, factors affecting demand, forecasting steps, benefits and challenges, along with the digitalization of demand forecasting and digital demand forecasting solutions. Market research, the Delphi method, expert opinion, moving averages, exponential smoothing, regression analysis and Artificial Intelligence / Machine Learning approaches are analyzed comparatively in terms of accuracy, cost and implementation time. An AI-supported demand forecasting case study from the retail sector connects what is learned to a real business problem.
Benefits for Participants and Companies
- Selecting the forecasting method best suited to the business need based on accuracy, cost and implementation time criteria
- Increasing forecast accuracy and thereby reducing inventory costs
- Improving inventory turnover, reducing end-of-season leftover products and stock-out risk
- Data-driven, predictable sales, purchasing and production planning
- A roadmap for digitalizing demand forecasting processes and transitioning to ML-based solutions
- Cross-departmental planning alignment through a common forecasting language
Who Should Attend
Anyone interested in demand forecasting and forecast accuracy; sales, planning, supply chain, purchasing and operations professionals who want to specialize in forecasting.
Attendance & Certification
Classroom training: 1 Day, maximum 15 participants. Remote training: 6 hours per day, 1 Day in total, maximum 25 participants. A Certificate of Attendance is given to participants.
We are ready for enthusiastic collaborations… | Grupas — people | process | technology
