Understanding Forecasting methods and Inventory Models

Course Overview:

The course throws light and leads the way in training you on various identified ways the forecasting method models are used in the calculation. It further extends to make you understand the calculation of seasonality using exponential forecasting methods. In the duration of the course, you will gain valuable knowledge on the inventory models, critical in production and operations management.

Our subject specialist heading the course will train you right from identification of forecast errors, and their application in exponential forecasting methods. Next aspect will be a deep understanding of the concept of regression analysis. When closer to the conclusion, you will be made aware of the importance of safety stocks, along with using the price-break model formula.

Begin this course if you are interested in gaining in-depth analytical techniques to forecast future sales, or if you are aiming to maintain optimised inventory profile in your organization.

Who Can Enroll:

Managers and Planners with responsibility for designing Demand and Inventory Planning

Supply Chain Analysts


Learning Outcome:

Segmentation of products into categories using proper demand and inventory characteristics.

Selection and application of planning policies and tools for different product categories.

Application of a range of forecasting methods and metrics. Understanding their limitations.

Application of a range of stock control algorithms and performance metrics. Understanding their limitations

Excel-based forecasting simulation model. For testing and exploration of your own organisation’s product data

Explanation of demand and inventory plans. To feed the Sales & Operations Plan.

Course Features:

Comprehensive practical training to enforce theoretical principles.

Limited Registrations, effective presentations.

Course could be customized to businesses and LOGO added to presentations.

Course cost covers training sessions, comprehensive notes set, support material, templates and hand-outs with soft copy.

Professionally planned, prepared and presented.

Internationally recognized certificate for lifetime validity of training completion. (Participants should achieve 80% in CHOOLS exam)

Support from subject matter experts. Query Handling Facility.

Industry related project support. Career guidance and candidate promotion.

Why Choose Chools?

Access to:

• Top 100,000 Ebooks.
• 250,000 Management slides and presentations.
• 1 million excel templates.
• 60,000 business documents.

• 15,000 top books in abstract forms.
• 40,000 audio podcast.
• 550 audio library books.
• 50,000 video libraries.

• 1500 training courses.
• 2.6 million Journals and articles.
• 137 Lean Six Sigma toolkit.
• Leadership assessments.
• Quiz, Exam prep, Q&As, Case-studies.

Course Outline

Integrated planning process

Popular statistical forecasting techniques

Proper identification of inventory control models

Selection of the best models for the products

Strategies for better improvement of the match between supply and demand

Forecasting tools and techniques

Essentials of S&OP and CPFR

The pros and cons of different inventory needs

Managing inventory in the supply network

Achieving an optimised inventory profile