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Forecasting and Capacity Planning

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Forecasting and Capacity Planning



This session will review two of the most critical decisions in any business: forecasting demand and managing capacity. While managerial judgment and experience is still required for forecasting demand, managers today are aided by different decision making models that help them improve their forecasts. In this class you’ll learn how to use a number of effective forecasting approaches.

This program also gives you essential tools required to effectively plan for appropriate capacity in your operations. In class many of these tools will be hands-on exercises done with EXCEL on a laptop.  You’ll also gain valuable understanding of useful capacity measures, like utilization and efficiency. You’ll look at two key strategies that can be applied to match the forecasted demand to the available capacity.


Operations Management

  • What is operations management?
  • Critical decisions in operations
  • Products vs. services

Forecasting Models

  • Qualitative vs. quantitative
  • Time series analysis
  • Moving average
  • Exponential smoothing
  • Regression analysis
  • Forecast errors

Capacity Planning

  • Capacity measures
  • Forecasts vs. capacity
  • Chase strategy
  • Level strategy
  • Yield management
  • Scheduling strategies


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