Course Details

Forecast the Future: Predictive Analytics for Demand Planning Training Course

INTRODUCTION

"Revolutionize your demand planning with the power of predictive analytics. Our Predictive Analytics for Demand Planning Training Course equips professionals with the skills to leverage data-driven insights for accurate forecasting and optimized inventory management. Learn to anticipate market trends, mitigate risks, and enhance supply chain efficiency using advanced predictive modeling. Master the techniques of modern demand planning and gain a competitive edge in today's dynamic marketplace."

"In an era of volatile markets and complex supply chains, accurate demand forecasting is crucial for business success. This course provides a comprehensive understanding of predictive analytics tools and techniques, empowering you to make data-driven decisions that drive profitability. Learn to harness the power of machine learning, time series analysis, and statistical modeling to anticipate customer demand, optimize inventory levels, and minimize stockouts and overstocking. This training will enable you to transform your demand planning process from reactive to proactive, ensuring your organization stays ahead of the curve."

DURATION

10 days

TARGET AUDIENCE

This course is meticulously designed for:

• Demand Planners and Analysts
• Supply Chain Managers and Analysts
• Inventory Managers and Specialists
• Sales and Marketing Professionals
• Operations Managers
• Business Analysts
• Anyone seeking to enhance their skills in predictive analytics for demand planning.

COURSE OBJECTIVES

Upon completion of this course, participants will be able to:

• Understand the fundamentals of predictive analytics and its applications in demand planning.
• Utilize time series analysis and forecasting techniques.
• Apply machine learning algorithms for demand prediction.
• Implement statistical modeling for forecasting accuracy.
• Analyze and interpret forecasting results for decision-making.
• Optimize inventory levels and reduce stockouts using predictive insights.
• Enhance supply chain efficiency through improved demand forecasting.
• Utilize data visualization tools for effective communication of forecasts.
• Understand the challenges and limitations of predictive demand planning.
• Understand proper model evaluation.

COURSE MODULES

Module 1: Introduction to Predictive Analytics and Demand Planning:

• Overview of predictive analytics concepts and methodologies.
• Understanding the importance of accurate demand forecasting.
• Exploring the applications of predictive analytics in demand planning.
• Understanding the challenges of traditional forecasting.

Module 2: Data Collection and Preprocessing for Demand Forecasting:

• Identifying and collecting relevant data sources (historical sales, market trends, etc.).
• Cleaning and transforming data for analysis.
• Implementing data warehousing and data lakes for demand planning.
• Understanding the importance of data quality.

Module 3: Time Series Analysis and Forecasting Techniques:

• Understanding time series data and its characteristics.
• Implementing moving averages, exponential smoothing, and ARIMA models.
• Analyzing seasonality and trend patterns.
• Understanding how to handle outliers.

Module 4: Machine Learning Algorithms for Demand Prediction:

• Applying regression models (linear, polynomial) for demand forecasting.
• Utilizing decision trees and random forests for predictive modeling.
• Implementing neural networks for complex demand patterns.
• Understanding model selection and tuning.

Module 5: Statistical Modeling and Forecasting Accuracy:

• Implementing statistical models for demand forecasting (e.g., regression analysis).
• Evaluating forecasting accuracy using metrics (MAPE, RMSE).
• Understanding forecast bias and error analysis.
• Understanding the importance of confidence intervals.

Module 6: Inventory Optimization and Stockout Reduction:

• Utilizing predictive insights for inventory optimization.
• Calculating safety stock and reorder points based on demand forecasts.
• Implementing inventory management strategies for stockout reduction.
• Understanding the impact of lead time on inventory.

Module 7: Supply Chain Efficiency and Demand Forecasting:

• Enhancing supply chain visibility through accurate demand forecasts.
• Utilizing predictive analytics for supply chain planning and optimization.
• Implementing collaborative forecasting with suppliers and customers.
• Understanding the importance of data sharing.

Module 8: Data Visualization and Communication of Forecasts:

• Utilizing data visualization tools (Tableau, Power BI) for effective communication.
• Creating dashboards and reports for demand planning performance.
• Communicating forecasting results to stakeholders.
• Understanding the importance of proper data presentation.

Module 9: Challenges and Limitations of Predictive Demand Planning:

• Addressing data quality and availability issues.
• Managing forecast uncertainty and volatility.
• Understanding the impact of external factors on demand.
• Understanding the importance of continuous improvement.

Module 10: Case Studies and Implementation Strategies:

• Analyzing real-world examples of predictive demand planning.
• Developing implementation strategies for predictive analytics projects.
• Measuring the ROI of predictive demand planning initiatives.
• Understanding future trends in demand planning.

CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com