Masterclass in Demand Management

Why Select this Training Course?

Demand management is a strategic approach to planning. Businesses utilise it to predict and strategise how to fulfil the demand for their services and products. Implementing demand management enhances the integration between operational and marketing activities. Effective demand management involves anticipating future demand in order to proactively address potential bottlenecks and fluctuations, enabling swift responses and ensuring the smooth operation of the supply chain. In the manufacturing process, demand management typically occurs after supply chain management, which involves the management of procurement and suppliers, but before portfolio management, which involves the implementation of projects based on management plans. Demand management is a highly interdisciplinary process that involves coordinating and integrating consumer demand, supply teams, inventory, marketing, and customer support.

This Rcademy Masterclass in Demand Management will provide students with an understanding of demand planning and its significance in supply chain management, equipping them with a solid foundation in key principles. This course will provide students with an understanding of the key factors that contribute to success. It will also outline the most effective strategies and techniques that companies are now implementing. Takers will be able to determine the essential business processes, tools, and people skills necessary to achieve an effective and successful demand planning function.

What is the role of a demand manager?

The demand manager enhances the organisation’s demand management operations by establishing connections and presenting offers to clients. This professional is responsible for supervising demand management activities and working closely with the IT department to establish and sustain Network Operating Centre (NOC) technologies.

What is the theory of demand management?

Demand theory is an economic idea that examines the correlation between the demand for consumer products and services and their market prices. Demand theory serves as the foundation for the demand curve, which establishes a relationship between consumer preferences and the quantity of items that are accessible. Demand theory is a fundamental theory in the field of microeconomics. Its objective is to address fundamental inquiries regarding individuals’ level of desire for goods or services, as well as how demand is influenced by income levels and contentment (utility). Companies modify the quantity of goods and services offered and the prices they set based on how useful consumers believe them to be. Assessing the level of demand in an economy is a crucial factor that businesses must analyse in order to thrive and expand in a competitive market. The market system is regulated by the principles of supply and demand, which dictate the prices of goods and services.

Who Should Attend?

This Rcademy Masterclass in Demand Management is for experts in  sales and manufacturing such as:

• Senior executives seeking to comprehend the significance of demand planning and management.
• Demand planners accountable for monitoring the demand planning processes of the organisation.
• Suppliers and supply chain professionals looking to gain an understanding of the diverse components of demand management.
• Personnel responsible for purchasing, procurement, inventory, sales, and project management.
• Experts engaged in the strategic analysis, assessment, organisation, and control of market demand.
• Supply chain managers responsible for overseeing the management of product demand to ensure timely delivery and customer satisfaction.
• Forecasting managers responsible for predicting future demand for products or services, without considering target setting or internal planning goals.

What are the Course Objectives?

The objectives of this Rcademy Masterclass in Demand Management are to provide professionals with the skills to:

• Gain expertise in all facets of demand management.
• Develop the necessary expertise and knowledge to efficiently oversee global partnerships and communications in order to disseminate information to different departments.
• Explore the abilities to conduct statistical data analysis and data modelling.
• Enhance the ability to efficiently handle fluctuations in demand without causing any significant disruptions to operations.
• Gain the ability to assess facts and make optimal decisions by developing decision-making and strategic abilities.
• Learn about demand management tools and software and become acquainted with enterprise resource planning (ERP) systems, which will ultimately serve as the data source.
• Develop understanding and the ability to anticipate future dangers in order to prevent any detrimental effects on the company.

How will this Course be Presented?

This Rcademy Masterclass in Demand Management is made to fit the needs of the people who take it. It also makes it easier for them to learn new things and get better at things they already know how to do. Active learning will be encouraged through various methods and techniques used in the training session. Experts who have worked in the field for years will give training. The modules are founded on exhaustive and in-depth research on the subject matter.

This Rcademy Masterclass in Demand Management uses lecture notes, topic-specific presentations, and real-life situations to combine classroom learning with hands-on practice. Students will be asked to take part in seminars, workshops, tests, and speeches to determine their satisfaction. They will also have to give ongoing comments on the classes they are taking.

What are the Topics Covered in this Course?

Module 1: Demand Management

• Definition of demand
• Sources of demand
• Management of demand
• The bullwhip effect
• Issues in demand planning and management

Module 2: Demand Planning

• What is demand planning?
• Why is it important?
• Planning vs. forecasting
• Method of demand forecasting
• Delphi method
• Salesforce
• Market research
• Econometrics
• Trend projection
• Categorisation
• Tailor-made software
• Generic tools
• Demand planning elements
• Demand aggregation
• Forecasting modelling
• Supply chain stakeholders’ collaboration
• Exception management
• The process of writing a demand plan
• Best practices
• The future

Module 3: Role of the Demand Planning Organisation

• Risk mitigation and flexibility
• Strategic decision-making
• Alignment across functions
• Effective promotions and marketing

Module 4: Demand in the Supply Chain

• Knowing the chain of supply
• Customer grouping
• Recognising the customer’s needs and demand
• Product classification with Pareto law
• Stock location

Module 5: Supply Chain in Big Demand: Approaches

• Lean logistics
• Big data
• Automation
• JIT – Just in time
• VMI – Vendor management inventory
• Use of third-party logistics
• CPFR – Collaborative Planning, Forecasting and Replenishment

Module 6: Factors Affecting Demand

• Price of related goods
• Changing tastes or preferences
• Expectations
• Buyer income
• Confidence of consumers
• Consumer preferences
• The number of customers
• Price
• Competitors
• Price elasticity of demand
• Advertising
• Economy
• Market
• Availability of materials
• Income

Module 7: Demand management

• Why you need demand management
• Demand management vs. demand planning
• Demand management vs. capacity planning
• Demand management vs. demand generation
• Demand management processes
• Planning
• Communicating
• Influencing
• Prioritising
• Types of demand management
• Independent
• Dependent
• Demand management activities
• Communicating
• Modelling
• Capacity management
• Sensing
• Change management
• Prioritising
• Shaping
• Demand management best practices
• Challenges in demand management

Module 8: The “push” vs “pull” philosophy

• Push strategy
• Pull strategy
• Hybrid system
• Benefits and challenges of the pull and push systems

Module 9:  Methods of Forecasting

• Qualitative and quantitative methods
• Naïve approach
• Time series methods
• Causal/econometric forecasting methods
• Judgmental methods
• Artificial intelligence methods

Module 10:  Product Lifecycle Management (PLM)

• What is PLM software?
• PLM in business
• What is cloud-based PLM?
• Phases of product development
• How does a PLM system work?
• Evolution of product lifecycle management
• Benefits of PLM

Module 11:  Inventory Management

• Types of inventory management
• Work-in-progress
• MRO – Maintenance, repair, and overhaul
• Finished goods
• Raw materials
• Periodic stock take
• Cycle counting
• Perpetual recording
• Bar-codes to manage inventory
• RFID for inventory movement
• Inventory accounting
• Techniques for inventory management

Module 12: Demand Planning Best Practices

• Embrace technology
• Build the right dataset
• Promote communication and collaboration
• Hold people accountable
• Notice new opportunities
• Maintain sufficient inventory levels
• Meet consumer demand
• Increased profitability

Module 13: The Future of Demand Management

• Demand sensing and shaping
• Predictive and prescriptive analytics
• Real-time visibility and collaboration
• Self serving applications
• Sustainability and ethical considerations
• Scenario modelling and risk management
• Customer-centricity and personalisation
• Data integration in real-time
• Interconnectedness
• Auto-ML – Use of automation in machine learning