Understanding Basic Forecasting Techniques

Introduction

The curriculum of this Training Course emphasizes alignment across functional areas, including procurement, inventory, production, and sales planning. Modules in forecasting techniques in supply chain training explore how integrated planning frameworks reduce variability, mitigate risk, and enhance collaboration across business units. With a strong focus on precision, agility, and technology adoption, the course covers advanced topics such as demand sensing and predictive analytics training, statistical modelling, and demand signal integration. Designed for professionals responsible for driving performance in planning and logistics, the course builds core competencies in inventory forecasting and demand planning, capacity analysis, and scenario forecasting. It also introduces key performance indicators and tools to improve forecast accuracy and guide strategic demand management in operations. Whether dealing with short-term volatility or long-range capacity planning, this course supports informed, data-centric decision-making in global and regional supply chains.

Objectives

• Develop strong competencies in demand management training, including scenario-based demand planning and capacity alignment
• Apply statistical techniques and modelling strategies from forecasting models and techniques courses to increase accuracy and reduce demand uncertainty
• Use structured methods in supply chain demand forecasting courses to synchronize operations across procurement, production, and logistics functions
• Enhance forecast accuracy using data integration, cross-functional collaboration, and predictive analytics from forecast accuracy improvement courses
• Design and implement effective demand planning processes using principles from demand planning and supply optimization courses
• Explore the role of advanced analytics, AI tools, and machine learning in demand sensing and predictive analytics training
• Improve inventory management performance through techniques taught in inventory control and demand alignment modules
• Develop and monitor KPIs to measure forecast reliability and demand plan adherence across business units

Training Methodology

Participants will receive a copy of the comprehensive course notes. The presenter will outline and discuss the topics using PowerPoint displays and videos. The course is designed to have an interactive format, to maximize delegate participation. Questions and answers are encouraged throughout and at the daily roundup sessions. Needs-based case-studies and examples will be introduced and discussed, in problem solving workshop sessions.

Who Should Attend?

• Demand planners, supply chain analysts, and inventory managers responsible for implementing and maintaining forecasting systems
• Sales and operations planning (S&OP) professionals working in sales and demand planning training functions
• Procurement, logistics, and warehousing personnel seeking to align capacity and service levels with forecasted demand
• Mid- to senior-level managers in manufacturing, distribution, and retail seeking to optimize operations through strategic demand management in operations
• Business analysts, data scientists, and forecasting professionals exploring methods from statistical demand forecasting training and predictive modelling
• Functional leaders coordinating cross-departmental planning through integrated business planning and forecasting processes
• Consultants and advisors involved in supply chain planning and forecasting training for large-scale or high-variability environments

Course Outline

Module 1: Foundations of Demand Management

• Key concepts in demand management training and their role in supply chain decision-making
• Understanding demand variability, seasonality, and trend drivers
• Collaboration across departments in demand planning processes

Module 2: Forecasting Methodologies and Tools

• Overview of qualitative and quantitative forecasting methods
• Use cases from forecasting models and techniques courses
• Selection and application of appropriate models based on data availability and business objectives

Module 3: Statistical Forecasting and Time Series Techniques

• Principles of statistical demand forecasting training
• Time series methods including moving average, exponential smoothing, and regression models
• Applying time series forecasting in supply chain with demand history and sales data

Module 4: Forecast Accuracy and Error Reduction

• Metrics for forecast evaluation: MAPE, MAD, RMSE
• Root-cause analysis for forecast deviations
• Practical tools from forecast accuracy improvement courses

Module 5: Demand Sensing and Predictive Analytics

• Near real-time demand sensing techniques
• Incorporation of machine learning and AI in demand sensing and predictive analytics training
• Scenario forecasting and risk modelling

Module 6: Integrated Business Planning and S&OP

• The role of cross-functional collaboration in integrated business planning and forecasting
• Aligning demand forecasts with financial and operational plans
• S&OP meeting structure and planning cycles

Module 7: Inventory Planning and Demand Alignment

• Linking demand forecasts with inventory planning
• Safety stock calculation and service level analysis
• Best practices in inventory control and demand alignment

Module 8: Demand Forecasting in Global Supply Chains

• Forecasting challenges in multi-location, multi-market operations
• Managing volatility and demand latency across regions
• Techniques from demand-driven supply chain strategy

Module 9: Forecasting Software and Digital Tools

• Evaluation of software tools and ERP system integration
• Data quality management and system governance
• Applications from forecasting tools and best practices courses

Module 10: Strategic Planning and Long-Term Forecasting

• Linking long-term forecasts to capacity and investment decisions
• Demand planning in new product development and market expansion
• Advanced scenario planning from strategic demand management in operations