This advanced level course will describe what forecasting is and its importance to business planning.
This advanced level course will describe what forecasting is and its importance to business planning. In this course you will learn the different forecasting techniques, general principles of forecasting, and forecasting measurements. It will also cover how to implement the use of technology in forecasting. By the end of this course, you will be able to identify the activities of forecasting and you will know how to use forecasts to improve business performance. You will also gain an appreciation for the different forecasting techniques and understand when to use each one.
Skills you’ll gain
ForecastingCorporate ForecastingEconomic ForecastingForecasting ManagementInventory ForecastingSales ForecastingWhat You'll Learn
- Define forecasting and explain its importance to business planning
- Distinguish between qualitative and quantitative forecasting techniques and when to use each
- Apply general forecasting principles and measure forecasting error
- Analyze data and choose the best forecasting approach for a situation
- Implement technology in forecasting and use forecasts to improve business performance
- Examine logistics topics including transportation, distribution, third- and fourth-party logistics, logistics networks, and customer satisfaction
Key Takeaways
- Forecasting is important to business planning, and forecasts can be used to improve business performance.
- The course covers qualitative and quantitative forecasting techniques along with general forecasting principles.
- Forecasting measurements and forecasting error help evaluate how forecasts are made and used.
- Technology can be implemented to support the forecasting process.
- The series also addresses logistics areas such as transportation, distribution, third- and fourth-party logistics, the logistics network, and customer satisfaction.
Frequently Asked Questions
What level is this course?
This is an advanced level course covering forecasting and logistics.
What forecasting topics does the course cover?
It covers the definition and importance of forecasting, qualitative and quantitative forecasting techniques, general forecasting principles, forecasting error, analyzing data, choosing the best forecasting approach, using the implemented forecast, and technology and forecasting.
Will I learn how to choose the right forecasting technique?
Yes. By the end of the course you will gain an appreciation for the different forecasting techniques and understand when to use each one, and learn how to choose the best forecasting approach.
Does this course cover logistics as well as forecasting?
Yes. It includes lessons on transportation, distribution, third- and fourth-party logistics, the logistics network, and customer satisfaction.
What skills does this course help build?
It builds skills in forecasting, corporate forecasting, economic forecasting, forecasting management, inventory forecasting, and sales forecasting.
Transcript
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Welcome to KnowledgeCity's course on "Forecasting and Logistics." This advanced level course will describe what forecasting is and its importance to business planning. In this course, you will learn the different forecasting techniques, general principles of forecasting, and forecasting measurements. We will also cover how to implement the use of technology in forecasting. By the end of this course, you will be able to identify the activities of forecasting and you will know how to use forecasts to improve business performance. You will also gain an appreciation for the different forecasting techniques and understand when to use each one. Let's get started.
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