Optimizing Operations Using Demand Forecasting and Capacity Management

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

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Overview/Description
It's a fact that market trends are constantly changing. Failure to adapt to these changes may result in your organization losing its competitiveness – and, ultimately, customers. To take advantage of these shifting forces, businesses must implement an effective operations management strategy that matches market demands. In this course, you’ll learn about demand forecasting and capacity management, two techniques that can optimize your organization’s operations to handle market trends and meet the challenges of supply and demand. You'll also learn about demand patterns, a process for forecasting demand, and strategies for managing your 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

Expertise Level
Everyone