Focus Workshop - Forecasting & Demand Management

One-day Workshop

Click here to see our Focus Workshop Series schedule.

Much of the success of enterprise planning and decision making depends on the formulation of accurate forecasts. Forecasting permits firms to establish performance measurements for customer service, plan the level of total inventory investment, choose between alternative operating strategies, and develop assumptions about the stability of the business to respond to the future needs of the marketplace.

This one-day workshop will focus on forecasting and demand management.

Forecasting

Development and maintaining accurate forecasts is critical to effective decision making at all levels of the organization. Effective forecasting will enable the firm’s managers to accurately project expected demand on the business’s resources. Topics discussed include:

  • Forecasting functions
  • Three levels of forecast
  • Defining demand
  • Universal principles of forecast management
  • Forecasting process
  • Benefits of forecast accuracy
  • Qualitative, quantitative and causal forecasting techniques
  • Why forecasts fail

Demand Management

This continues the discussion on forecasting by focusing on understanding, determining and working with forecast error. Included is a deeper investigation into customer and demand management – centering on a review of customer relationship management (CRM) and how it assists in the development of the overall demand plan that will be transmitted to sales and operations planning (S&OP) and master production scheduling (MPS). Topics discussed include:

  • Defining demand management
  • Components of demand management
  • Demand management in the MPC system
  • Forecast performance
  • Calculating and measuring forecast error
  • Mean and standard deviation of forecast error
  • Customer relationship management (CRM)
  • Customer service management
  • Demand management technology tools
  • Demand management performance

Source:      Principles of Operations Planning, sessions 3 & 4

Potential Audience

This workshop may be of interest to: material planners, production planners, sales and marketing, customer service, buyers, procurement, middle management.

Prerequisite(s)

A general understanding of manufacturing is preferred.

Materials

Participant guides will be provided.

Recommended reading (optional – will not be used during the workshop):

  • Introduction to Materials Management, 7th edition Arnold, Chapman, Clive
  • APICS Dictionary, 14th edition

Both books are available for purchase through the chapter.

Information

For more information, please contact education@apicsogv.org.