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Optimizing Operations Using Demand Forecasting and Capacity Management


Overview/Description
Target Audience
Prerequisites
Expected Duration
Lesson Objectives
Course Number


Overview/Description
How do companies cope with changes in demand for their goods and services? If demand falls below supply, profits shrink – and if demand exceeds supply, dissatisfied customers could take their business elsewhere. Demand forecasting and capacity management help operations managers negotiate the challenges of balancing supply and demand. This course will give you important foundational knowledge of both demand forecasting and capacity management. It discusses the key characteristics of various demand patterns, describes a process and various methods for forecasting demand, and covers basic strategies for managing an organization's capacity.

Target Audience
Anyone working in operations management or another functional area, who is looking to gain a working understanding of the operations functions in a service or manufacturing organization

Prerequisites
None

Expected Duration (hours)
0.5

Lesson Objectives

Optimizing Operations Using Demand Forecasting and Capacity Management

  • match customer demand trends with the patterns that illustrate them
  • identify the major demand forecasting variables
  • sequence the stages in the demand forecasting process
  • match specific demand forecasting methods to the appropriate model category
  • recognize the characteristics of level, or fixed, strategies for managing capacity
  • match appropriate descriptions to each chase demand strategy approach
  • recognize statements that describe organizations that use the demand management strategy
  • recognize ways to forecast demand and strategies for managing capacity
  • Course Number:
    oper_45_a05_bs_enus