Demand Forecasting KPIs for Supply Chain Planning

Demand Forecasting KPIs for Supply Chain Planning, available at $44.99, has an average rating of 4.41, with 15 lectures, 4 quizzes, based on 37 reviews, and has 157 subscribers.

You will learn about How to compute RMSE, MAE, MAPE, WMAPE, and Bias Pros and Cons of each forecasting metric Which forecasting metric(s) to use when evaluating the quality of a forecast Evaluate the quality of a forecast using relevant KPIs Why MAPE is the worst forecasting KPI and what to do instead This course is ideal for individuals who are Demand and supply planners or S&OP managers and leaders or Supply chain practitioners in general It is particularly useful for Demand and supply planners or S&OP managers and leaders or Supply chain practitioners in general.

Enroll now: Demand Forecasting KPIs for Supply Chain Planning

Summary

Title: Demand Forecasting KPIs for Supply Chain Planning

Price: $44.99

Average Rating: 4.41

Number of Lectures: 15

Number of Quizzes: 4

Number of Published Lectures: 15

Number of Published Quizzes: 4

Number of Curriculum Items: 26

Number of Published Curriculum Objects: 26

Original Price: $34.99

Quality Status: approved

Status: Live

What You Will Learn

How to compute RMSE, MAE, MAPE, WMAPE, and Bias
Pros and Cons of each forecasting metric
Which forecasting metric(s) to use when evaluating the quality of a forecast
Evaluate the quality of a forecast using relevant KPIs
Why MAPE is the worst forecasting KPI and what to do instead

Who Should Attend

Demand and supply planners
S&OP managers and leaders
Supply chain practitioners in general

Target Audiences

Demand and supply planners
S&OP managers and leaders
Supply chain practitioners in general

This course will teach you how to use various forecasting metrics (Bias, MAE, MAPE, WMPAE, and RMSE) to select the best demand forecast. The end goal is that you can (as a demand planner or S&OP leader) automatically assess the quality of forecasts at scale – even if you have a wide product portfolio (including intermittency and products with different prices).

Specifically, you will learn:

The pros and cons of Bias, MAE, MAPE, and RMSE,
How they react to intermittent demand and outliers,
Why MAPE is the worst forecasting KPI,
Which metric(s) to use to balance accuracy and bias?
How to use value-weighted KPIs to assess the quality of your forecasts, even if you deal with various products with different prices.

This course alternates theory with Do-It-Yourself exercises in Excel. You will learn by doing and gain hands-on experience with practical examples and case studies. You will be able to apply these concepts (and use the Excel templates) directly to your work environment for immediate impact.

This course’s content is based on my books (Data Science for Supply Chain Forecastingand Demand Forecasting Best Practices) and the content of the training course I teach to professionals and university students.

The course only requires limited experience with Excel (such as using usual formulas such as average and sum).

Course Curriculum

Chapter 1: Introduction

Lecture 1: Introduction

Chapter 2: How to Compute Forecasting Metrics

Lecture 1: Bias vs. Accuracy

Lecture 2: How to Compute Forecasting Metrics

Lecture 3: Bias

Lecture 4: MAE

Lecture 5: MAPE

Lecture 6: Playing with MAPE

Lecture 7: RMSE

Lecture 8: WMAPE vs. MAE%

Chapter 3: Selecting the Best Forecasting Metric

Lecture 1: Select the Best Forecast using Metrics

Lecture 2: Select the Best Metric(s)

Lecture 3: The Best Compromise

Chapter 4: Value Weighted Metrics

Lecture 1: From a single product to multiple products

Lecture 2: Value-Weighted Metrics

Chapter 5: Outro

Lecture 1: Debrief

Instructors

Nicolas Vandeput
CEO, Author

Rating Distribution

1 stars: 1 votes
2 stars: 1 votes
3 stars: 3 votes
4 stars: 14 votes
5 stars: 18 votes

Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!

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