Summary
Demand planning is the cross-functional process of meeting customer demand while managing inventory levels and avoiding supply chain disruptions. It is essential to ensuring high levels of customer satisfaction, reducing operating costs, and freeing up working capital.
This course provides you with the knowledge and skills to successfully combine sales forecasting, inventory management, and supply chain management to meet customer demand efficiently and effectively. In addition to establishing a foundational understanding of the processes of demand planning and forecasting, you will also learn how to integrate inventory recording into your planning and connect operations and marketing through demand management.
- Understand the importance and benefits of demand planning and the role it plays in balancing inventory levels and customer demand.
- Describe forecasting techniques and how demand forecast is the foundation in the demand planning process.
- Examine the value of managing inventory for demand planning.
- Explain how demand management improves forecast accuracy, reduces costs, and strengthens the demand planning process.
- Demand Managers and Planners
- Professionals in Procurement, Purchasing, Inventory, and Sales
This course uses a variety of adult learning styles to aid full understanding and comprehension.
Participants will review case studies to highlight key areas of importance and possible areas for faults.
They will be supplied with the best tools required to carry out learning exercises to improve their skills. Participants will analyse the examples to gain a thorough understanding of how these skills, techniques and methods apply in the workplace.
Course Content & Outline
- Understand the structure and characteristics of supply chains.
- Describe the process of customer segmentation.
- Identify customer needs.
- Outline the use of Pareto (ABC) Analysis in classifying products.
- Discuss the importance of inventory locations.
- Identify the different demand planning strategies.
- Describe the benefits of customised product hierarchies.
- Outline the aggregate planning process.
- Summarise MRO inventory planning.
- Examine Master Production Scheduling (MPS).
- Outline the general principles of demand planning and forecasting.
- Discuss the impact of lead time on the forecasting process.
- Compare quantitative and qualitative forecasting methods.
- Examine strategies to track and evaluate forecast accuracy.
- Determine safety stock levels.
- Describe inventory recording strategies: periodic and perpetual.
- Assess inventory accuracy through cycle counting.
- Compare the use of RFIDs and barcodes to manage inventory movement.
- Discuss the key aspects of inventory accounting.
- Identify how inventory management complements demand planning
- Identify the differences between demand planning and demand management.
- Outline the characteristics of demand management.
- Define and analyse stock turnover ratio.
- Examine how demand management impacts customer service.
- Explore the impact of demand management on operations costs.
- Describe how to measure and evaluate the efficacy of your system.
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