Setup Menus in Admin Panel

Give us a Call: L: (+971) 4 558 8245 M: (+971) 52 955 8232

Search Courses
Generic filters
Exact matches only
Filter by Custom Post Type

Course Overview

What is demand forecasting and analysis? Demand forecasting refers to analysis to predict the future demand of an organisation’s product. In other words, demand forecasting involves a series of steps to calculate or estimate the demand of a product in future, after considering controllable and uncontrollable factors, in order to direct and plan manufacturing and other related processes. Demand forecasting is gaining importance considering the rise in competition and continuous changing market dynamics. Demand forecasting and analysis is extremely useful to track sales, fulfil objectives, devise strategies and undertake budgeting, control costs, stabilise employment and track overall performance. It has thus become imperative for an organisation to focus on demand forecasting and analysis to be able to effectively meet customer demands.

This Zoe training course will empower you with detailed knowledge and understanding of all important aspects of demand forecasting and analysis. Through this course, you will gain the confidence and necessary skillset to contribute to one of the most important aspects of your organisation—demand forecasting and analysis. The knowledge gained through this course is not restricted to one organisation or industry, and thus, you will be able to apply the concepts learned here in any role that you may undertake in future.


Course Objectives

The main objective of this program is to empower professionals with—

  • adequate knowledge and understanding of best practices and advanced concepts of demand forecasting and analysis
  • the required knowledge of advanced techniques and methods to estimate demand, in turn delivering the closest and most accurate estimates of future demand
  • an enhanced skillset and capabilities to calculate demand, pre-empt challenges and set systems to secure the organisation against potential losses
  • the confidence and knowledge to train professionals on best practices of demand forecasting and analysis
  • the capabilities and skillset to contribute to organisational stability, credibility and growth by securing the organisation against future risks and challenges
  • the ability and potential to contribute to customer satisfaction through availability of raw materials and goods for timely delivery of high-quality goods to customers
  • the knowledge and confidence to apply technology and automate demand forecasting to ensure timely changes in supply and manufacturing
  • the knowledge, confidence and experience to track organisational performance and make changes as per the required market demand
  • the ability and knowledge to devise essential policies and protocols to help achieve business objectives and gain a competitive advantage in the market

Training Methodology

Training courses at Zoe Talent Solutions are designed keeping in mind a relevant audience. Still, before each training course, the content is closely reviewed and changes are made, if necessary, to suit the relevant audience. Lectures are conducted by trained, experienced professionals from relevant domains. To encourage trainee participation, the trainer assigns group projects and tasks. Role-plays and case study discussions encourage trainees to interact with each other. Experiential learning is also highly promoted.

The above unique and effective approach to training has been devised by Zoe Talent Solutions and is called the Do–Review–Learn–Apply Model.


Organisation Benefit

With professionals undertaking this course, their organisations will derive the following benefits:

  • Experienced, trained professionals to conduct demand forecasting and analysis for the organisation
  • Regular supply of raw materials and goods to meet changing demands and to keep stock for future demand
  • More informed processes and systems to handle risks and overcome future challenges that could impact manufacturing and supply of goods to customers
  • Regular, free training of professionals working to supply goods to customers in time
  • Controlled pricing and reduced expenses because of waste reduction and controlled production
  • Competitive advantage because of planned procurement and manufacturing as per current and future market demands, despite controllable and uncontrollable challenges
  • Automation of demand forecasting and analysis to ensure continuous tracking of organisation performance and sourcing according to customer demand
  • Organisational growth and increased client satisfaction because of on-time delivery of high-quality goods to customers
  • Control over finances and sales to make provisions for periods of lull in the business

Personal Benefit

Professionals enrolling for this course will benefit as follows:

  • Detailed knowledge and understanding of demand forecasting and analysis
  • Enhanced perspective, thought process and strategic skills to forecasts demand considering challenges and hindrances, thus providing organisational stability
  • Increased ability and skill to predict challenges and mitigate these to prevent impact to delivery of goods to customers
  • Greater ability and understanding to contribute to organisational growth and development through controlled costs and increased client satisfaction
  • Increased confidence and knowledge to train other professionals on various techniques and methods of demand forecasting and analysis
  • Increased analytical skills to track sales and control finances to avoid losses to the business
  • Greater knowledge and understanding to devise and deploy objective and automated means to track organisational performance to make critical changes in time
  • Increased skillset and capabilities to create policies and devise processes to streamline demand forecasting and analysis and align these to other resulting processes and systems of the organisation

Who Should Attend

  • Employees, managers and strategists responsible for conducting demand forecasting and analysis in the organisation
  • Vendors and suppliers who need to prepare for periods of low or high demand
  • Top management and senior members of the organisation responsible for driving supply and demand and related activities within an organisation
  • Finance advisors and members of the accounts teams who need to understand demand forecasting and analysis for effective costing and budgeting
  • Potential investors who need to understand market dynamics and prospects to make calculated, effective investment decisions
  • Policy makers responsible for creating various policies around market demand and internal manufacturing and supply processes within the organisation
  • Any other professional interested in understanding demand forecasting and analysis

Course Outline

The course covers the following areas important to understand demand forecasting and analysis:

Module 1 – Objectives of Demand Forecasting

  • Formulating production policy
  • Formulating price policy
  • Controlling sales
  • Arranging finance
  • Deciding the production capacity
  • Planning long-term activities

Module 2 – Types of Demand Forecasting

  • Passive demand forecasting
  • Active demand forecasting
  • Short-term demand forecasting
  • Medium- to long-term demand forecasting
  • External macro-level demand forecasting
  • Internal business level demand forecasting

Module 3 – Factors Influencing Demand Forecasting

  • Types of goods
  • Competition level
  • Price of goods
  • Level of technology
  • Economic viewpoint
  • Time period forecasts

Module 4 – Steps in Demand Forecasting

  • Setting the objective
  • Determining time period
  • Selecting a method for demand forecasting
  • Collecting data
  • Estimating results

Module 5 – Methods of Demand Forecasting

  • Experts’ opinion poll
  • Delphi method
  • Market experiment method
  • Trend projection method
    • Graphical method
    • Fitting trend method
    • Box–Jenkins method
  • Regression methods
  • Index number

Module 6 – Characteristics of A Good Demand Forecasting Method

  • Accuracy
  • Longevity
  • Flexibility
  • Acceptability and simplicity
  • Availability
  • Plausibility and possibility
  • Economy
  • Yielding quick results
  • Maintenance of timelines

Module 7 – Advantages of Demand Forecasting

  • Fulfilling objectives
  • Tracking sales
  • Strategy and budgeting
  • Controlling costs
  • Stabilising employment and production
  • Tracking overall performance

Module 8 – Demand Forecasting Challenges

  • Accurate monitoring of stock levels
  • Availability of historic sales forecasting data
  • Calculating correct supplier lead-times
  • New product introductions
  • Decentralised stock control
Note
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
ZOE Talent Solutions Logo



Address

Middle East – Head Office

918, Blue Bay Towers,

Al Abraj Street (Marassi Drive),

Business Bay, Dubai, UAE

Join Our Team as a Trainer

We are proud to have a team of highly experienced expert training professionals from all over the world.

If you feel you have the right skills to become a part of our training team. Please use the link below.

>Apply Now

Copyright © Zoe Talent Solutions 2019