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Course Description

Successful supply chain analysts know that consumers sometimes act unpredictably. During the COVID-19 pandemic, for example, consumers stockpiled toilet paper in response to a perceived shortage. Even in more ordinary circumstances, consumers might purchase more items than usual during a sale or purchase items in bulk to take advantage of volume discounts or fixed shipping costs. All these consumer behaviors add variability to demand forecasting calculations and can cause businesses to misjudge the amount of inventory needed to meet actual demand. In this lesson, you will explore why understanding demand variability is critical for meeting consumer demands with minimal waste. You will then have the opportunity to calculate shipment and demand variance using sample data. Finally, you will analyze the bullwhip effect and the strategies used to mitigate its impact. For the best result, complete "Assess and Improve the Forecast Performance of a Supply Chain: Measure Demand Forecast Performance," "Assess and Improve the Forecast Performance of a Supply Chain: Generate Demand Forecast Without Seasonality" and "Assess and Improve the Forecast Performance of a Supply Chain: Generate Demand Forecast With Seasonality" prior to taking this lesson.

Benefits to the Learner

  • Measure demand variability along the supply chain and how to mitigate its effects
  • Determine the causes of the bullwhip effect and ways to mitigate it
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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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