This courses teaches you how a business or organization cope with the demand for its goods and services. Demand and Supply should more or less match with each other. If there is a mismatch, either there will be more money locked in inventory of the customers will be frustrated due to non-availability of products and services.

It is the responsibility of the operations manager to analyze the demand and supply. The operations manager should be thorough knowledge about forecasting the demand and formulate strategies for meeting the demand.

What you learn from this course?

• What is meant by ‘Forecasting’

• Classification of Forecasting

• Types of Forecasting

• Factors to Consider While Forecasting

• Steps for Ratio-Trend Analysis

• Regression Analysis

• Work Study Techniques

• Managerial Judgments for Forecasting

• Mistakes to Avoid while Forecasting

One important module briefs about the Factors to be Considered for Forecasting which includes:-

• Economic Environment

• Legal Environment

• Technological Environment

• Competitive Environment

To make the above concepts clearer, the explanation is supported by an interesting case study.

The characteristics of good forecasting includes:-

1. Goal-oriented

2. Futuristic

3. Analytical Process

4. Choice and Decision Making

5. Basis for Operations Management

6. Continuous Process

7. All-Inclusive

8. Accurate & Efficient

9. Flexibility

This courses gives you good knowledge about the tools and techniques used in Forecasting and Demand Management.

You will be better equipped and apply whatever you have learnt in your day to day operations.

Now go Ahead and click on the Enrol to learn more!!!!