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90-minute live streaming program
  • April 2
  • 1:00 - 2:30 pm EST

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Demand Forecasting for Inventory Planning

April 2

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 best-in-class 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.

Learning Objectives

  • You will be able to define business risks to mitigate and opportunities to seize.
  • You will be able to discuss the impact demand forecasting has on inventory levels.
  • You will be able to identify best methods for forecasting long-tenured and brand new products.
  • You will be able to recognize your most profitable products, and what products need to be on the chopping block.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Demanding Profitability
  • Top Performers, Volume and Margin
  • Low Performers, Find the Decision Maker
  • Dead SKUs, the Cost of Keeping Dead/Old Stock
Forecasting Growth - If You Don't Build It, Sales Won't Come
  • Collaboration Across Departments
  • History, Friend and Foe
  • Seasonality
  • New Product Launches
  • Risks and Opportunities
Breaking the "Sold out" Cycle
  • Missed Sales With Stockouts
  • Banking on "Pent up" Demand
  • Communication With Decision Makers
Strategic Inventory Modeling
  • Lead Time of Finished Goods
  • Supply Lead Time
  • Days of Inventory
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Can't Attend?

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on October 17, 2018.

Call 1-866-352-9540 for further credit information.

  • CPIM/CFPIM/CSCP 1.0
     
  • This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
     
  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPIM/CFPIM/CSCP 1.0
     
  • This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
     
  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     
  • CPE 1.8 including Production 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Production for 1.8 hours. Prerequisite: basic knowledge of purchasing contracts. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

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

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Can't Attend?

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Layne Booth

Layne Booth

The Project Booth

  • Owner and operations catalyst of The Project Booth
  • Practice emphasizes all aspects of operations, supply chain management, manufacturing, inventory and forecasting
  • Conducts regular workshops on back end systems and strategies
  • Six Sigma Green Belt, Project Management Professional
  • B.S. degree, textile and industrial engineering
  • Can be contacted at [email protected] or www.theprojectbooth.com
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Can't Attend?

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405272
Published 2018, 2019
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