Advanced Forecasting and Inventory Management Strategies

Objectives:
• Deepen understanding of advanced forecasting techniques and methodologies.
• Explore advanced inventory management strategies for optimizing stock levels.
• Develop skills to implement forecasting models effectively in inventory planning.
• Learn how to use demand forecasting to improve inventory management decisions.
• Gain insights into inventory optimization techniques and their application in real-world scenarios.
• Understand the role of technology and data analytics in advanced forecasting and inventory management.
• Enhance knowledge of supply chain dynamics and their impact on inventory management.
• Acquire tools and techniques for risk management and mitigation in inventory operations.
Course Content:
Advanced Forecasting Techniques
• Time series analysis and forecasting
• Exponential smoothing methods
• ARIMA models for time series forecasting
• Forecast combination techniques
Demand Forecasting Models
• Regression analysis for demand forecasting
• Seasonal decomposition methods
• Machine learning algorithms for demand prediction
• Collaborative forecasting techniques
Inventory Optimization Strategies
• Multi-echelon inventory optimization
• Inventory pooling and network design
• Dynamic safety stock management
• Inventory stratification and segmentation
Technology in Forecasting and Inventory Management
• Forecasting software and tools
• Inventory management systems (IMS)
• RFID and IoT applications in inventory tracking
• Big data analytics for demand forecasting
Supply Chain Dynamics and Inventory Management
• Bullwhip effect and its impact on inventory
• Vendor-managed inventory (VMI) strategies
• Cross-functional collaboration in supply chain management
• Lead time management and supplier performance
Inventory Risk Management
• Risk assessment and mitigation strategies
• Inventory hedging techniques
• Contingency planning for supply chain disruptions
• Compliance and regulatory considerations
Performance Measurement and KPIs
• Key performance indicators (KPIs) for forecasting and inventory management
• Inventory turnover ratio and days sales of inventory (DSI)
• Fill rate, stockout rate, and service level
• Forecast accuracy metrics
Case Studies and Best Practices
• Real-world case studies of advanced forecasting and inventory management implementations
• Best practices in inventory optimization and demand forecasting
• Lessons learned from industry leaders in supply chain management
: Future Trends in Forecasting and Inventory Management
• Emerging technologies and innovations in forecasting and inventory optimization
• Predictive analytics and AI-driven forecasting models
• Sustainable inventory management practices
• Future challenges and opportunities in the field

FOR WHOM:
Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.
Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:        8th – 11th Apr,                  2025     

2ND BATCH:     14th – 17th Oct,                 2025