Forecasting E-Learning Course

Forecasting e-learning course
Weighted moving average
Forecast error tracking example
Forecasting e-learning courseWeighted moving averageForecast error tracking example
Price: $180.00

Product type: E-Learning course

The course provides a thorough grounding in key forecasting principles and concepts.

Product: EL38

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Forecasting

The course provides a thorough grounding in key forecasting principles and concepts. It is suitable for retailers operating in both category management and merchandise management environments. By the end of the program, students will be able to do the following:

  • Explain the theory, principles and practice of forecasting.
  • Describe best practice forecasting processes.
  • Be able to judge which are the best forecasting techniques to use in your business.

To view a sample of this Forecasting e-learning course select the Video tab above.

 

Who Is It Suitable For?

This program is designed for:

  • Everyone involved in forecasting including merchandisers, buyers and supply chain managers and their teams.
  • IT departments, consultants and vendors supplying and selling forecasting systems will benefit from a better understanding of the key processes and methods.

 

Detailed Content

The detailed content includes:

  • Introduction :
    • Simple forecasting
    • Pre-requisites to support good forecasting
    • Demand forecasting vs sales forecasting
    • Characteristics of an item
  • Forecasting Methods :
    • Simple moving average
    • Weighted moving average
    • Setting weights
    • Averages or weighted moving average – limitations for forecasting
    • Variance against plan
    • Forecast profiles
    • What is a profile?
    • Using profiles
  • Forecasting Accuracy :
    • Inventory review horizons
    • Chain vs. store forecasting
    • Chain or warehouse vs. store forecasting
    • Measuring forecast error
  • More Advanced Forecasting :
    • Forecasting at a price
    • Exponential smoothing
    • Adjusting smoothing based on length of sales experience
    • Smoothing factors
    • Exponential smoothing with trend and seasonality
    • Trend modifier
    • Using seasonality factors
    • New product profile
    • Forecast profiles – advanced
  • Forecasting strategy :
    • Practical comments
    • Category management
    • Forecasting and allocation / replenishment
    • Forecasting across the supply chain
  • Mastery test
  • Learners completing the mastery test and obtaining an 80% pass mark will also receive a mastery certificate upon completion.

 

Benefits of Studying This Program

Learners studying this program will be able to review the forecasting methods they use and improve them as necessary. This will result in reduced forecast error, better on shelf availability, lower clearance markdowns and closer achievement of terminal stock targets.

 

Hours of Study

3 hours

 

Resources Included

Blog articles on inventory management.

 

Price

The price for a single student is US $180, or UK £144 or EU €166. This includes one year’s access to the class.

Corporate licences are available.

 

Pre-Requisites Necessary

A basic understanding of key retail processes, such as taught in Buying, Category and Merchandise Management Processes.

 

After This Program

The next logical program in developing learners’ knowledge is Allocation and Replenishment.