Fast Track Demand Forecasting

This course is designed for professionals who are responsible for forecasting demand in fast-paced, rapidly changing industries. The course focuses on the principles and techniques of demand forecasting, including time series analysis, causal forecasting, and demand sensing. Students will learn how to develop accurate demand forecasts quickly and efficiently, using advanced statistical techniques and forecasting software.

Course Outline:

Introduction to Demand Forecasting

• Overview of demand forecasting
• Types of demand forecasting
• Importance of accurate demand forecasting

Time Series Analysis

• Overview of time series analysis
• Time series components: trend, seasonality, and cycles
• Time series modeling and forecasting

Causal Forecasting

• Overview of causal forecasting
• Relationship between demand and external factors
• Causal modeling and forecasting

Demand Sensing

• Overview of demand sensing
• Real-time demand data and analytics
• Demand sensing techniques and software

Forecasting Software

• Overview of forecasting software
• Features and capabilities of forecasting software
• Hands-on training with forecasting software

Forecasting Performance Metrics

• Overview of forecasting performance metrics
• Metrics for measuring forecasting accuracy
• Techniques for improving forecasting accuracy

Implementation and Integration

• Overview of implementation and integration
• Best practices for implementing demand forecasting
• Integration with supply chain management systems

Prerequisites:

• Basic knowledge of statistics and data analysis.
• Familiarity with demand forecasting concepts and methodologies.

Recommended Textbook:

• “Principles of Forecasting, Fourth Edition” by J. Scott Armstrong.

Assessment:

• Midterm Exam (30%)
• Final Exam (40%)
• Forecasting Project (30%)

Note: The course syllabus and assessment methods are subject to change based on instructor’s discretion.