Workshop Topic:
Optimize your inventory investment by exploring industry best practice methodology on forecasting demand in a variety of environments as the precursor to creating a Forecast / Master Production Schedule in your ERP.
Why Use:
Is your company’s inventory investment continuing to escalate while the customer satisfaction of your product’s lead time and on-time delivery is eroding? Do your products or services experience upticks or declines due to market conditions or seasonality? Is your organization struggling to have the right Inventory available at the right time while supporting financial objectives?
Workshop Description (2 hours):
During this session, the attendees will learn the proven concepts for creating forecasts from Qualitative and Quantitative data. Examples of various business environments will be presented with a collaborative working team exercise using a team-selected forecasting methodology.
Who Should Attend:
Master Schedulers, Inventory Management Professionals and Planners will benefit from this workshop.
Learning Objectives:
Upon completion of this workshop attendees will be able to understand the differences between Qualitative and Quantitative Forecast Methods and have the tools to calculate five different Quantitative forecasting methods including Seasonal Demand Patterns.
Workshop Prerequisite:
Bring an example of one finished good’s past 24 to 36 month sales history in monthly buckets, which can be used as a real-life example during the team exercise.