Advanced Demand Forecasting
This course is part of Certified Forecaster and Demand Planner (CFDP).
This comprehensive course equips professionals with advanced forecasting techniques essential in today's volatile business environment. Students learn to develop quantitative, judgmental, and causal forecasting models for various demand patterns, including seasonal, intermittent, and new product demand. The course addresses critical challenges like supply shortages, pandemics, and disruptive events, teaching participants how to adapt forecasting methods to the "New Normal" business environment. Covering machine learning applications, Lean Six Sigma principles, and risk mitigation strategies, students gain practical skills in choosing appropriate forecasting methods and improving forecast accuracy. As part of the CFDP certification program, this course prepares professionals for decision-making positions in demand planning and forecasting.
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What you'll learn
Develop comprehensive forecasting models for various demand patterns
Choose appropriate forecasting methods based on data patterns
Implement Machine Learning and Lean Six Sigma principles for improved accuracy
Assess forecast performance using precision and accuracy metrics
Mitigate risks from inaccurate forecasts and handle data anomalies
Skills you'll gain
This course includes:
PreRecorded video
Graded assignments, exams
Access on Mobile, Tablet, Desktop
Limited Access access
Shareable certificate
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There are 10 modules in this course
This course covers essential aspects of demand forecasting in modern business environments. Students learn about quantitative, judgmental, and causal forecasting models, with applications for seasonal, intermittent, and new product demand. The curriculum includes machine learning integration, Lean Six Sigma principles, and practical strategies for dealing with data challenges like missing values and outliers. Special emphasis is placed on handling disruptive events and improving forecast accuracy through various methodologies. The course integrates theoretical knowledge with practical applications, preparing professionals for real-world demand planning challenges.
Forecasting myths, realities and challenges
Module 1
Forecasting based on historical data
Module 2
Seasonal demand forecasting
Module 3
Intermittent demand forecasting
Module 4
Forecasting with Machine Learning
Module 6
New product forecasting
Module 7
Forecast performance
Module 8
Impact of randomness and disruptive events in forecasts
Module 9
Improving forecasting with Lean and Six Sigma Principles
Module 10
Fee Structure
Individual course purchase is not available - to enroll in this course with a certificate, you need to purchase the complete Professional Certificate Course. For enrollment and detailed fee structure, visit the following: Certified Forecaster and Demand Planner (CFDP)
Instructor
25 Courses
Supply Chain Education and Implementation Expert
Jorge Morales is a distinguished supply chain authority who serves as the IISB - Essentials Committee Chair at ISCEA. With over two decades of practical experience, he has established himself as a leading expert in empowering human resources to improve supply chain processes. He holds an MSc from the University of Strathclyde in Scotland and has served as a visiting lecturer at Tecnologico de Monterrey and other Mexican universities. His extensive professional credentials include certifications as Supply Chain Manager, RFID Supply Chain Manager, Supply Chain Technology Professional, Forecaster and Demand Planner, and Demand Driven Planner. His impact extends throughout Latin America, where he has trained supply chain professionals across multiple countries including Mexico, Costa Rica, Panama, Dominican Republic, Colombia, Ecuador, and Peru.
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Frequently asked questions
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