Understanding Operation Management Forecasting

Course Overview:

How to accurately forecast the future. In the world of business, this is a skillset that is birthed from knowledge and experience. Forecasting the future in the world of Operation Management relies heavily on mathematical tools and the Operation Manager’s intuition.
But when it comes to something as intricate as Operation Management, it is better to be safe than sorry. Seeing as all operations managers are responsible for a product from beginning till end, learning how to make accurate forecasts on how to properly budget, find long term sales strategies and the final demand for the said product. These are all aspects of a project that an operation manager needs to have a good know-how of.

In simple terms, a good forecast tries to use past data, cast it into the future, and find what all you will need to account for, for generating a profitable revenue stream from your business model.

Who Can Enroll:

Individuals who are working in the field of Operations Management, and need to divine new methods and production strategies. Those who need to find out methods to reduce wastage, and improve performance.
This course is for you.

Learning Outcome:

  • You learn to have a multidisciplinary approach towards the act of Operation Management. Taking into account how every element feeds the other.
  • Discern the purpose of your forecast.
  • Working with moving trends to come to accurate predictions for your company.
  • How to use extrapolation, data mining, causal models and Box-Jenkins models.

Course Features:

  • Comprehensive practical training to enforce theoretical principles.
  • Limited Registrations, effective presentations.
  • Course can be customized to the needs of different businesses and LOGO added to presentations.
  • Course cost covers training sessions, a set of comprehensive notes, support material, templates and hand-outs with soft copy.
  • Professionally planned, prepared and presented.
  • Internationally recognized certificate for lifetime validity of training completion. (For this, Participants must achieve 80% in the 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:

  • How to work with time horizons – Making suitable long range, medium range, and short range forecasts.
  • Elements of a good forecast.
  • Preparing the forecast
  • Monitoring the forecast effectively.
  • Properly gathering and analyzing necessary data.