What You Will Learn!
- Identify the demand forecasting using different methods and why is it necessary for an organization.
- Learn qualitative methods of forecasting like Delphi method, Sales force forecasting, Executive opinion and Customer survey or market research.
- Learn fundamentals of exponential smoothing method for forecasting
- Calculate forecast using the trend adjusted trend adjusted exponential smoothing method
- Calculate forecast using Simple moving average and weighted moving average methods.
- Calculate the Mean absolute deviation (MAD), Mean Absolute percent error (MAPE) and tracking signal for these forecasted values.
Description
In this course, you will learn the different methods of Demand Forecasting including examples. In this course, you will also learn about the qualitative methods of forecasting like Delphi method, Sales force forecasting, Executive opinion and Customer survey / market research. You will also learn the concepts of how to find out the forecast when the historical data has a trend.
This course can be useful for students studying operations management, professionals working in IT industry responsible for the planning and implementation of demand forecasting. There will be 28 lectures in the course covering the main topics of demand forecasting.
Following are the lectures that are part of the demand forecasting course- Fundamentals of demand forecasting, Components of demand, Qualitative methods of forecasting, Fundamentals of simple moving average, Fundamentals of weighted moving average, Fundamentals of Exponential smoothing, Value of alpha for exponential smoothing, Fundamentals of trend adjusted exponential smoothing, Fundamentals of Seasonal influence in forecasting using multiplicative seasonal method, Linear regression using Causal relationship forecasting, Fundamentals of Seasonal influence in forecasting and Measurement of Forecasting error using Mean Squared error (MSE), Standard deviation (sigma), Mean absolute deviation (MAD) and Mean absolute percent error (MAPE). This will also covers the examples of each of these topics.
Who Should Attend!
- The course can be useful for students studying operations management, professionals working in IT or Management industry responsible for optimizing demand forecasting
