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Course Description

Demand forecasting does not occur in isolation, meaning that additional factors cause variations in sales. For example, products with limited shelf lives can only be held as inventory for a short time; they need to be sold quickly. As you explore the many methods for forecasting demand, you will notice that as the context and timelines get more complicated, so do the calculations. Nonetheless, it is critical to optimize results for the most accuracy. In this lesson, you will apply and extend the possibilities of demand forecasting by considering how moving averages and exponential smoothing can improve forecasting accuracy. You will also incorporate MS Excel Solver to optimize calculations to find the best demand forecasting method before considering seasonality. For the best result, complete "Assess and Improve the Forecast Performance of a Supply Chain: Measure Demand Forecast Performance" prior to taking this lesson.

Benefits to the Learner

  • Apply moving average and exponential smoothing to forecast demand
  • Generate a forecast without seasonality to anticipate demand and plan for inventory management
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Type
self-paced (non-instructor led)
Dates
Sep 28, 2023 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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