About this course: Have you ever wondered how companies know how much to produce in advance so that they do not make too much or too little? Matching supply and demand requires planning. This course introduces you to the exciting area of supply chain planning. Part of a broader specialization on Supply Chain Management, you will master different forecasting techniques, essential for building a Sales and Operations Plan. At the completion of this course you will have the tools and techniques to analyze demand data, construct different forecasting techniques, and choose the most suitable one for projecting future demand.
Who is this class for: This course is for those looking to start a career in Supply Chain Management, but lack the basic background, for those working with people in Supply Chain Management and want to understand their daily challenges better, or for are fascinated by how demand is forecasted in today's supply chains.
Created by: Rutgers the State University of New Jersey
Taught by: Rudolf Leuschner, Ph.D., Assistant Professor
Department of Supply Chain Management
| Basic Info | Course 3 of 5 in the Supply Chain Management Specialization |
| Level | Beginner |
| Language | English, Subtitles: Greek |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
Simple Forecasting Methods, Naive Forecast and Cumulative Mean
Welcome to the exciting world of planning! This module introduces you to the professor who is teaching the courses in the Supply Chain Management Specialization. You will also construct forecasting models that enable you to predict future demand. By the end of this short module, you'll know what to expect in the course and hopefully be as excited to learn about Supply Chain Planning as I will be to teach you.In this module learners will review two simple forecasting methods, the naive method and the cumulative mean. Finally, you will create forecasts of your own based on a data set and provide the correct answers in the quiz.
6 videos, 6 readings, 2 practice quizzes
- Video: What is Supply Chain Planning?
- Reading: Is this course for me?
- Discussion Prompt: Introductions
- Video: So, you want to forecast demand?
- Discussion Prompt: Simple Forecasting Methods
- Peer Review: Simple Forecasting Methods
- Video: The Naive Forecast
- Reading: Naive Forecast Example
- Video: Naive Forecast Screencast
- Practice Quiz: Naive Forecast Practice Quiz
- Reading: Naive Forecast Solution
- Video: The Cumulative Mean
- Reading: Cumulative Mean Example
- Video: Cumulative Mean Screencast
- Practice Quiz: Cumulative Mean Practice Quiz
- Reading: Cumulative Mean Solution
- Reading: Naive Method and Cumulative Mean Quiz Instructions
Graded: Naive Forecast and Cumulative Mean Assessment
WEEK 2
Forecast Accuracy and Moving Average
In this module, learners will cover two more sophisticated forecasting methods, the moving average and exponential smoothing.
4 videos, 7 readings, 2 practice quizzes
- Video: Forecast Accuracy Measures
- Reading: Notes on Forecast Accuracy Measures
- Video: Forecast Accuracy Measures Screencast
- Practice Quiz: Forecast Accuracy Practice Quiz
- Reading: Forecast Accuracy Solution
- Reading: Forecast Accuracy Quiz Instructions
- Video: Moving Average
- Reading: Moving Average Notes
- Video: Screencast on Moving Average
- Reading: About Rounding
- Practice Quiz: Moving Average Practice Quiz
- Reading: Moving Average Solution
- Reading: Moving Average Quiz Instructions
Graded: Forecast Accuracy
Graded: Moving Average
WEEK 3
Exponential Smoothing and Forecast Selection
In this module, you will master one more forecasting method - exponential smoothing. In addition, you will learn how to pick the best forecasting approach and what to do with the forecast once it is implemented.
3 videos, 5 readings, 1 practice quiz
- Video: Exponential Smoothing
- Reading: Exponential Smoothing Notes
- Video: Exponential Smothing Screencast
- Practice Quiz: Exponential Smoothing Practice Quiz
- Reading: Exponential Smoothing Solution
- Reading: Exponential Smoothing Quiz Instructions
- Reading: Optimizing Exponential Smoothing
- Video: Selecting the Best Forecast
- Reading: Forecasting Best Practices
- Peer Review: Selecting the Best Forecasting Method
Graded: Exponential Smoothing Forecast
WEEK 4
Supply Chain Planning
In this module you will put your new forecasting skills to the test. You will analyze a real-life dataset and make recommendations on the different forecasting methods.
1 video, 1 reading
- Video: Supply, Manufacturing and Distribution Planning
- Reading: Sales and Operations Planning
- Discussion Prompt: Sales and Operations Planning
Graded: Supply Chain Planning Assessment
FAQs
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Creators
Rutgers the State University of New Jersey
Pricing
| Audit | Purchase Course | |
|---|---|---|
| Access to course materials | Available | Available |
| Access to graded materials | Not available | Available |
| Receive a final grade | Not available | Available |
| Earn a shareable Course Certificate | Not available | Available |
Ratings and Reviews
There were many confusions while solving the quiz else it's a good course, I have learnt a lot from this course.
Interesting and usefull knowing basic forecast methods
Great course in supply chain planning, the assignments were challenging and throughly tested the learnings gathered in the weekly learning modules. Highly recommend that the assignments and quizzesbe completed sincerely, as they offer immense scope to reinforce the learnings and grow.
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FN
I have learned a lot in this course. I am now ready to apply it in my day to day job.