Why Choose this Training Course?
Demand planning or sales forecasting is one most important aspect of any organization whether it is a service or a manufacturing organization. A service organization would estimate the demand for the services and preparing to service the demand for its services. A manufacturing organization would be assessing the demand for its manufactured goods by estimating the supply of raw materials, production capacity and distribution for example.
This Demand Planning and Management training course will help organisations to make every effort to manage demand in order to effectively plan how to satisfy this demand. Rather than being merely order takers, demand management is necessary to match marketing and sales efforts with production lead times and is also essential in situations where capacity has changed, either due to changes in equipment and/or human resources. Most importantly, this Demand Planning and Management training course will help you understand the imporatance of demand management in terms of its effectiveness, cost focused, inventory considerations.
This AZTech training course will feature:
- Reduction in inventory investment
- Improved customer satisfaction
- Reduced cost of running the inventory management function
- Understanding inventory categories in management
- Management of Stock Keeping Units in terms of their priorities
What are the Goals?
By the end of this AZTech training course, participants will be able to:
- Understand the importance of inventory & the role it plays in the profitability of the company
- Examine the most appropriate method for planning demand
- Understand the value chain in inventory management
- Apply best methods to manage demand
- Examine the appropriate techniques for delighting the customer
Who is this Training Course for?
This AZTech training course is suitable to a wide range of professionals but will greatly benefit:
- Purchasing, Procurement, Inventory, Sales and Project personnel
- All others who are involved in the planning, evaluation, preparation and management of demands that cover the acquisition of materials, parts, equipment, and services, and who are in organizations whose leadership want high levels of excellence in those involved in these activities
How will this Training Course be Presented?
This AZTech training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. The training course is highly class-work based and will prompt delegates to reflect on current practices and on their current practices. The Tutor will guide and facilitate learning using a wide variety of methods including direct input, discussions, case studies and group work.
The Course Content
Day One: Demand in the Supply Chain
- Understanding the Supply Chain
- Customer Segmentation
- Knowing the Needs of the Customer
- Pareto Law in Identifying Product Classification
- Location of Inventory
Day Two: Demand Planning
- Hierarchy of Planning
- Aggregate Planning
- Different Types of Demand Planning
- Maintenance & Inventory Planning
- Master Scheduling
Day Three: Forecasting
- Principles of Forecasting
- Effect of Lead Time on the Forecasting Process
- Quantitative and Qualitative Forecasting
- Tracking Forecast Accuracy
- Determining Safety Stock
Day Four: Inventory Recording
- Periodic Stock Take
- Cycle Counting
- Perpetual Recording
- Utilising Bar-codes to Manage Inventory and Movements
- The use of Radio Frequency Identification (RFID) for Recording Inventory Movement
- Inventory Accounting
Day Five: Demand Management
- Understanding the Principles of Managing Demand
- Stock Turnover Rate
- Customer Service
- Cost of Operations
- Measuring the Effectiveness of your System
- How to use the Measurements
- AZTech Certificate of Completion for delegates who attend and complete the training course