This course provides the foundation for the development of forecasting models used in the Demand Planning module as well as the measurement of forecast accuracy and best fit. It also covers how historical data is managed by the system, how to calculate and use smoothing methods in your forecast, how to modify the forecast, and how the forecast is loaded into the Master Schedule and Materials Requirements Planning modules for generating the detailed requirements.
WHO SHOULD ATTEND?
This course is intended for master schedulers, planners, business analysts, project managers, and core team members.
Participants should have experience with the IFS Manufacturing and Distribution modules, especially the Master Scheduling and Materials Requirements Planning functions. A working knowledge of basic statistical processes is beneficial.
Latest released version unless otherwise noted
At the conclusion of this class, the participant will understand the calculations used for creating forecasts, analysis of forecast errors and their impact on the forecast, and the models used in the Demand Planning module.
- Creating and importing a set of historical data into the system for generating system forecasts.
- Creating a forecast using each of the forecasting models, and evaluating the errors generated by each specific model.
- Creating an autocorrelation on a specific set of data to determine seasonality or cyclical patterns.
- Creating a seasonal model for a specific set of data, and creating the appropriate forecast.
- Calculating the appropriate factors for generating a forecast for a specific product, and viewing the forecasting errors to determine the appropriate actions to be taken.
- Modifying a forecast, and then exporting it to the Master Schedule Level 1 for processing a production plan.