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Supply Chain Forecasting and Planning
Learn to discuss the basics of supply chain planning and various forecasting methods used for predicting future salesPreview the first lesson free — get full access to all 9 lessons.
Intermediate Provider : Kersten Kelly-Bruner 9 Lessons · 41m in Arabic, English, Spanish
Course Description
In Supply Chain Forecasting and Planning, you will learn the basics of supply chain planning. You will explore the role of forecasting and practice the exponential smoothing, adaptive smoothing, moving average, and regression analysis techniques. You’ll also take a deep dive into life cycle modeling in the supply chain.
Understanding the fundamental aspects of supply chain planning enables companies to balance their supply with consumer demand. By gaining a basic understanding of the role of forecasting, you can position your company to understand how much product is needed at the right time to service customers. Forecasting methods such as exponential smoothing, adaptive smoothing, moving average, and regression analysis empower you to make informed, data driven decisions based on predictive models tailored to your type of product. With additional tools such as life cycle modeling, it’s easy to understand what phase of growth or decline your product is in and how to plan for that within your supply chain network.
What You'll Learn
- Define the basics of supply chain planning and its role in balancing supply with consumer demand
- Explain the role of forecasting in determining how much product is needed at the right time
- Apply forecasting methods including exponential smoothing, adaptive smoothing, moving average, and regression analysis
- Use life cycle modeling to identify a product's phase of growth or decline
- Make data-driven supply chain decisions based on predictive models tailored to your product type
Key Takeaways
- Understanding supply chain planning fundamentals enables companies to balance their supply with consumer demand.
- A basic understanding of forecasting helps position a company to know how much product is needed at the right time to service customers.
- Forecasting methods such as exponential smoothing, adaptive smoothing, moving average, and regression analysis support informed, data-driven decisions based on predictive models.
- Life cycle modeling makes it easier to understand what phase of growth or decline a product is in and how to plan for it within the supply chain network.
Frequently Asked Questions
What will I learn in this course?
You will learn the basics of supply chain planning, explore the role of forecasting, practice forecasting techniques such as exponential smoothing, adaptive smoothing, moving average, and regression analysis, and take a deep dive into life cycle modeling in the supply chain.
Which forecasting methods does the course cover?
The course covers exponential smoothing, adaptive smoothing, moving average, and regression analysis.
How is life cycle modeling used in this course?
Life cycle modeling is presented as a tool to understand what phase of growth or decline your product is in and how to plan for that within your supply chain network.
What skills does this course help build?
This course supports skills in critical thinking, problem solving, data analysis, and risk management.
What topics are included in the lessons?
Lessons include an introduction, the basics of supply chain planning, the role of forecasting in supply chain planning, exponential smoothing, adaptive smoothing, moving average, regression analysis, life cycle modeling, and a knowledge test.
Professional Certifications and Continuing Education Units (CEUs)
Project Management Institute (PMI®)
Professional Development Units (PDUs): 0.75
KnowledgeCity has been reviewed and approved by the PMI® Authorized Training Partner Program. Users can maintain your PMI credentials by earning PDUs from KnowledgeCity qualified courses in Project Management, Business Management, Leadership and many others.
Society for Human Resource Management (SHRM®)
Professional Development Credits (PDCs): 0.75
KnowledgeCity is approved by SHRM as a Recertification General Provider to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). By taking the courses approved by SHRM, KnowledgeCity can award SHRM Professional Development Credits (PDCs) for HR knowledge and competency programs related to the SHRM Body of Applied Skills and Knowledge™ (the SHRM BASK™).
