Retail forecasting is a data-driven process that utilizes historical sales data and market trends to predict future product demand. It empowers retailers to make well-informed decisions on inventory management, supply chain operations, and marketing strategies, ultimately optimizing stock levels and efficiently meeting customer demand.
In the Strategic Forecast process, the retail takeaway is a key input. We incorporate the effects of changes in Market share, consumption patterns, and inventory cycles to model a shipment forecast. Hence this is a demand-driven pull forecast. This workshop will explain how demand forecast is modeled as a function of point-of-sale consumption forecast and changes in retail inventory. We explain the mechanics of obtaining and using syndicated POS data from sources like Nielsen and IRI.
Customized Retail Forecasting Web workshop for your company
– Duration: 3 hours
– up to 9 attendees from the same organization
– Date and time: by appointment
– Includes complete workshop materials.
You Will Learn:
- The details of Share calculations and inventory cycles
- The consumption forecast model using POS data
- The effect of Promotional spends on Market Share
- A simple model of Marketing Mix and the share optimization process
To schedule a customized on-site workshop, please contact us.
What Clients Say
“The session helped me understand patterns and forecast accordingly, I hope to streamline our demand and supply by the methods taught in the session.”
“The course moved at a pace that kept my attention but also allowed me to follow along. I have found the material to be beneficial and will be applying what I learned to my role.”
“The workshop was very informative and I enjoyed it thoroughly. It was successful in refreshing many key concepts and I was able to come up useful insights to implement”
“Demand Planning LLC more than met my expectations with the Demand Planning Certification and Training session. The facilitators did a great job with a diverse set of attendees from my team, and were able to weave technical skills with business-focused learnings. Even with 15+ years, I was able to identify key takeaways to use to improve our processes, while my team was able to learn valuable lessons.”