Course description
Demand management requires aligning with consumer trends, historical sales and seasonality data, amongst other factors. It also looks at constantly changing circumstances that affect demand. These factors include regulatory changes, economic shifts, labour force changes, natural disasters, weather patterns, or global crisis events. Therefore, demand planning should be a continuous process ingrained in your business. Ambitious organisations must effectively plan to meet it.
This course will give you a perspective on demand planning principles and success drivers and describe the best practices that firms use today. You will be able to identify the relevant business process, tools, and people capabilities, that are critical to ensure an efficient and successful demand planning function.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This Training course is suitable for a wide range of professionals but will greatly benefit:
- Purchasing, Procurement, Inventory, Sales and Project personnel
- All others who are involved in the planning, evaluation, preparation and management of demands that cover the acquisition of materials, parts, equipment, and services and
- Who are in organizations whose leadership want high levels of excellence in those involved in these activities
Outcome / Qualification etc.
The objectives of this course are to empower professionals and experts with:
- In-depth knowledge and understanding of Demand Planning and Demand Management
- The required skill, knowledge to accurately plan and forecast
- Knowledge of the right amount of inventory to meet customer demand
- The required confidence and experience to partake in devising an effective Inventory Management strategy
- The required awareness, methods, and approaches to choose the best-suited planning method
- Help the organisation to gain maximum benefit
- A sense of pride in playing an important part in increasing organisational profitability
Training Course Content
Day 1
Demand Management Overview
- Overview of Demand Planning
- Definition of Demand
- Sources of Demand
- Definition of Demand Management
- Customer of the Demand Plan
- Benefits of Demand Planning
- Challenges in Demand Planning and management
Day 2
Role of the Demand Planning Organisation
- Demand Planners – Role, Responsibilities, and Expectations
- Demand management within Supply Chain
- Effective Demand Planning Process characteristics and behaviors
- Integration with Planning & Control function
- Best Practices, Examples, and Principles
Day 3
Forecasting
- The four pillars of Forecasting
- Principles of Forecasting
- Quantitative and Qualitative Forecasting
- Probabilistic forecasting.
- Moving average demand
- Linear regression
- Seasonal trends
- Sales forecast
- Tracking Forecast Accuracy
- Determining Safety Stock
Day 4
Performance Measurements
- How to Use Performance Measurements
- Monthly Planning Cycle
- Demand Plan Accuracy Measurement
- When to Measure
- Planning Strategies
- Process Measurements
- Examples
Day 5
Demand Planning Best Practices
- Get buy-in and demand accountability
- Have accurate inventory data
- Demand sensing / Assessing factors affecting demand
- Actively shaping demand with marketing, promotion, and pricing tools
- Due diligence when choosing & implementing the right demand planning software
- Improvement Methodology and Mindset
- Addressing Critical Issues
- Case Studies and hands-on exercises
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...