The topics will be covered by lectures-cum case discussion methods, hands on practice with computer software with live case examples from industry will be provided in and outside the classroom.

Junior, Senior, and Middle level Managers from public and private sector undertakings from any functional area

1. Demand Analysis and Forecasting

• Overview of demand analysis and business Forecasting.
• Determinants of demand, Elasticity of demand, revenue and profit of a firm.
• Determining what must be forecast to achieve your goal.
• Steps and Characteristics of forecasting.
• Forecasting in Time Horizon, Forecasting Hierarchy.
• Developing Forecasting model.
• Forecast Errors/Accuracy Rate – MAD, MSE AIC, SBC etc.

2. Qualitative Forecasting Techniques:

• Delphi, Sales force composite, Consumer Panel Survey, Judgmental boots trapping, etc.

3. Quantitative Forecasting Techniques:

• Time Series Analysis: Trend analysis and projection, cyclical variations, seasonal effects, random fluctuations.
• Smoothing Techniques: Moving Average, Exponential Smoothing, Holt’s, winter’s Model, Seasonal Decomposition, Box-Jenkins class of Forecasting models, like ARIMA, SARIMA, VARMA etc.
• Econometric Techniques: Multiple Regression Analysis and Forecasting.
• Forecasting Using Volatility models: ARCH, GARCH and its variants models.
• Machine Learning: Random Forest, Artificial Neural Network, LSTM etc.

4. Intermittent Demand Forecasting: Croxton Method

5. Use of software packages for forecasting: R, Python, Excel, Minitab, Eviews, STATA etc.

Demand estimation, market size determination, sales projection, Talent Demand Forecast, Attrition Forecast, Head Count Forecast, Diversity Forecast, Workforce planning, Electric power consumption forecast, average retail price of a product forecast, forecasting monthly diversity rate for an organisation, stock price forecast etc. 

04 Dec- 08 Dec 2023- XLRI , Jamshedpur.