Forecasting and Inventory Management

Lahore
04 & 05 – march – 2022

COURSE OVERVIEW

Overview of supply chain management and Supply Chain Operations Reference (SCOR) model, Integrating of Supply chain[expand title=”Read More” style=”color:white;” ]

Planning Matrix and SCOR Model, Introduction to forecasting and inventory control, Relationship between forecasting and
Inventory control,
Forecasting methods for fast moving as well as intermittent demand, Implementation of the forecasting
methods using M.S.Excel and R software, Sales & Operations Planning, Overview of inventory systems, Costs and tradeoffs,
ABC Analysis, The Economic Order Quantity (EOQ) model and its extensions, Safety Stocks, Dynamic Inventory
Management Models

[/expand]

Learning Objectives

  •  Understand the supply chain planning matrix
  •  Understand the models for forecasting demand and sales
  • Describe the relationship between forecasting and Inventory control
  •  Understand the basics of Inventory control
  •  Calculating stock levels using different types of inventory models

WHO SHOULD ATTEND

  • Logistics Managers
  • Supply Chain Managers
  • Purchasing Managers
  • Inventory Analysts
  • Inventory Planners
  • Inventory Controllers
  • Anyone who want to get a Solid Understanding of Forecasting and Inventory Control

WHY YOU SHOULD ATTEND THIS 2-DAY TRAINING

This course introduces you to the exciting area of supply chain planning and control i.e., demand/sales forecasting and inventory management. You will master different forecasting techniques, essential for building a Sales and Operations Plan and various inventory models for managing the appropriate inventory levels.<br> The primary aim of this training program is to equip the participants with the forecasting and inventory control concepts and approaches to perform the necessary duties related to inventory management.

COURSE AGENDA

DAY 1

  • Supply Chain & Supply Chain Management
  • Supply Chain Operations Reference (SCOR) model: An Overview
  • Integrating of Supply chain Planning Matrix and SCOR Model
  • Overview of the Inventory Control and Forecasting
  1. Relationship between Inventory and Forecasting
  • Demand and Sales patterns overtime
  •  Forecast Methods for fast demand
  1. Exponential Smoothing Methods
  2. ARIMA Methods
  3. Auto selection criteria for best method
  • Forecast Methods for intermittent demand
  1. Croston’s method
  2. Syntetos and Boylan approximation (SBA)
  3. Auto selection criteria for best method
  • Measures of Accuracy
  • Software: M.S. Excel, R Studio & R-Language

DAY 2

  • What is Inventory and Inventory Management?
  • Types of Inventory
  • Inventory Systems
  • Inventory costs (i.e., holding, ordering etc.) and their tradeoffs
  • ABC Analysis
  • Inventory Models for deterministic demand
  1. Economic Order Quantity (EOQ) Model
  2. EOQ Model with Quantity Discounts
  3. EOQ Model with Production Rate
  4. and its extensions etc.
  • Inventory Models for probabilistic demand
  1. Inventory control systems

(s, Q) System

(s, S) System

(R, S) System

(R, s, S) System

2.    Safety stocks

  • Dynamic Inventory Models

TRAINER PROFILE

DR. HAKEEM-UR-REHMAN

RESEARCH INTEREST

Operations and Supply Chain Management, Lean Six Sigma, Total Quality Management, Operations Planning

Read more

[caldera_form id=”CF6114d76f038e3″]

Course Fee

[mvc_infobox info_style=”mega_info_box_2″ info_opt=”show_icon” icon_size=”52″ title_color=”#ffffff” font_icon=”fas fa-receipt” info_title=”Registration Fee” title_size=”22″ icon_color=”#ffb600″]

21,500 /- PKR (Group Discounts Available)

[/mvc_infobox]

Account Title: POTOHAR CENTER FOR ENTREPRENEURSHIP DEVELOPMENT
Account Number: 0327 0102777809
Bank: MEEZAN BANK
(Please share the evidence of payment at training@ceca.aiia.com.pk Or
Whatsapp at 0333 8387801) 

REGISTER