This workshop is a hands-on learning experience. The instructor will briefly review each topic (summarized in the outline) and then provide a problem for the class to solve. The problem may be using a forecast algorithm to determine future possible unit-sales or calculate inventory levels using the various formulae taught in this class. This workshop covers the basics to the advanced in forecasting and inventory management methods and calculations.

Workshop Outline

  1. Forecasting and your Supply Chain
    • Forecasting: the good, the bad and the ugly
    • How forecasts turn into inventory levels
    • The Bullwhip Effect in supply chains
    • Sales & Operations Planning
  2. Forecasting Models
    • Time series
      • Exponential smoothing
      • Moving average
      • Seasonal adjustments
    • Regression modeling
  3. Inventory Classification
    • ABCD and F
      • Pareto analysis
    • Inventory turns
    • Inventory carrying costs
  4. Inventory Calculations
    • Leadtime stock and safety stock
    • Replenishment methods
      • Reorder points and reorder quantities
      • Min/max
      • Materials requirements planning (or order-up-to method)
    • Economic order quantity and tradeoff analysis
    • Effect of multiple storage locations for the same inventory item