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Demand Forecasting for Inventory Planning

presented by Lorman Education Services
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Demand Forecasting for Inventory Planning

Workshop Description/Agenda

Learn how to get the right product at the right time with these demand forecasting best practices. Many demand forecasters and planners who want to optimize inventory levels, often find themselves overstock or understock. They are repeating cycles where they have spent too much cash on the wrong products, or not enough on the right products and are missing sales. This can lead to loss of customers, firefighting urgent demand problems, costly expediting of product, and decreased profits. This topic helps the persons responsible for having the right product at the right time for their customers, operate with bestinclass demand forecasting practices to optimize inventory levels. The material also explains methods for evaluating poor performing SKUs, utilizing critical soft skills in collaboration, analyzing product trends, and strategically planning inventory levels.

Demanding Profitability
ï Top Performers, Volume and Margin
ï Low Performers, Find the Decision Maker
ï Dead SKUs, the Cost of Keeping Dead/Old Stock

Forecasting Growth - If You Don't Build It, Sales Won't Come
ï Collaboration Across Departments
ï History, Friend and Foe
ï Seasonality
ï New Product Launches
ï Risks and Opportunities

Breaking the "Sold out" Cycle
ï Missed Sales With Stockouts
ï Banking on "Pent up" Demand
ï Communication With Decision Makers

Strategic Inventory Modeling
ï Lead Time of Finished Goods
ï Supply Lead Time
ï Days of Inventory

Layne Booth with The Project Booth

AIPB ,APICS ,CPE ,ISM ,Additional credit may be available upon request.

Who Should Attend

This live webinar is designed for purchasing and procurement professionals, buyers, material managers, contract administrators, project managers, controllers, accountants and bookkeepers.

Additional Information

Training Provider: Lorman Education Services

Course Topics: Purchasing / Procurement Training > Essentials

Training Course Summary: Demand Forecasting for Inventory Planning

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