Demand Management

Description

The course helps participants understand the role of demand and inventory planning in the wider context of supply chain management. It aims to demonstrate how to improve the alignment between supply and demand to maintain good levels of customer service and on-shelf availability whilst eliminating excess stock and reducing inventory investment.

PARTICIPANTS WILL LEARN HOW TO:

• Understand the role of demand management and its benefits
• Identify the key demand characteristics and patterns; learn how to use them to improve forecast accuracy
• Develop an understanding of key qualitative and quantitative forecasting methods
• Learn how to conduct fundamental inventory analyses with a view to achieving the appropriate trade-off between stock and service level

COURSE TOPICS INCLUDE:

The role of Demand Management

• The end-to-end view of Supply Chain Management
• Demand Characteristics and the Product Life Cycle
• Demand patterns
• Push and pull systems

Background to forecasting
• The forecasting Process
• Time-series methods of forecasting
• Calculating forecast errors

Inventory Analysis
• Categorisation of stock
• ABC Analysis
• Economic order quantity and minimum order quantity
• Safety stock and stock cover

Inventory Management
• Materials requirements planning (MRP)
• Stock replenishment systems
• Practical inventory management
• The cost of managing stock