Certified Professional in Demand Forecasting

You can achieve forecasting excellence by completing the three modules of the Basic Curriculum (64 learning hours/50 independent hours) – each topic is about a one-hour learning session

Module 1 (24 hours) Topics and Hands-on Computer Learning

Who uses the forecast?

What do you need to forecast?

Workshop 1 - Thinking about factors in forecasting

Gathering data and determining factors of demand

Workshop 2 - Assessing factors of demand

Displaying and summarizing time series

How do we smooth data?

Workshop 3 - Plotting and smoothing time series

How do we use components of a time series?

Workshop 4 - Identifying components in a time series

What are univariate projection techniques?

Workshop 5 - Forecasting with univariate models

How do we measure forecast accuracy?

How do we select models and credible forecasts?

Workshop 6 - Applying univariate models during a forecasting cycle

How do we design a model building strategy for forecasting?

Module 2 (24 hours)

How do we organize sources of information?

How do we maintain data?

Workshop 7 - Structuring data sources for forecasting

What are the basic statistical tools for summarizing data?

How do we measure linear and autocorrelation?

Workshop 8 - Measuring correlations among variables

How do we construct simple linear regression models?

Workshop 9 - Analyzing simple linear regression models

How do we create a multiple linear regression model?

Interpreting the output of a linear regression model

Workshop 10 - Analyzing multiple linear regression models

How do we use inferences from regression models?

Workshop 11 - Validating linear regression models

Incorporating qualitative variables into a model

How do we create projections and prediction limits in regression models?

Workshop 12 - How to forecast with qualitative variables

What are some typical regression models used for forecasting?

How do we select forecasting models based on historical data?

Workshop 13 - Creating regression models for forecasting applications

What resources should be devoted to the forecast?

Module 3 (16 hours)

What are the key qualities of a good data source?

Where do we find data sources for the factors?

Workshop 14 - How to identify data for demand forecasting?

What is the role assumptions in demand forecasting?

Workshop 15 - How to identify key users of demand forecasting?

What is the role of demand models in the supply chain?

What are the major approaches to forecast modeling?

Workshop 16 - How to choose demand models for forecasting

How do we deal with events and promotions in models?

Workshop 17 - How to model special events and and promotions with regression models

How to use multiple metrics for evaluation

How do we track and monitor forecasts?

What is Sales & Operations planning?

Workshop 18 - How to create a time-phased order forecast

The role of proper documentation for ongoing cooperation, collaboration and communication with users and management