Supply Chain Foundations: Forecasting and Responsiveness
— Offered by the Sam M. Walton College of Business —
Course 2 of 4 in the Supply Chain Foundations Series
In Forecasting and Responsiveness, you'll learn some fundamental supply and demand concepts, and explore some of the challenges around developing accurate forecasts. You'll hear about basic forecasting approaches, learn to identify forecast error, and examine two processes for matching supply and demand--S&OP, an intra-organizational process, and CPFR, an inter-organizational process.
The second part of the course focuses on supply chain agility, responsiveness, and flexibility—how the supply chain can become more agile, acknowledging the trade-offs that come with greater flexibility and responsiveness. You'll learn about supply chain visibility and how successful companies exploit “big data” and technology as part of their competitive strategy.
- Identify the Lead Time Gap
- Demand Forecasting
- Demand Forecasting Methods
- Forecast Error Metrics
- Sales and Operations Planning (S&Op)
- Collaborative Planning, Forecasting, and Replenishment
- Supply Chain Agility
- Supply Chain Visibility
- Big Data
- Organizational Factors
Online / On-Demand
Certificate of Completion
Learners who complete this course and desire documentation can download a Certificate of Completion for three professional development hours at the end of this course.
Video: Supply Chain Foundations
( video length - 1:23 )
Certificate in Supply Chain Management Studies
Learners who complete the entire Supply Chain Foundations Series of four courses are entitled to the Certificate in Supply Chain Management Studies (not academic credit) issued by the University of Arkansas. You will receive instructions on how to apply for this non-credit certification upon completion of all four courses.
What to Expect
- All four courses are all approximately the same length, with around 11-12 lessons each.
- The four courses can be taken in any order, but since the courses increase in complexity, it is recommended you take the courses in sequence for maximum comprehension.
- Modules within each course are in sequence, meaning you must finish the first module before starting the second.
- Learn content through videos, selected readings, practice exercises with feedback, and interactive self-assessments.
After completing this series, you will be able to do the following:
- Discuss the components of supply chain and logistics, use analytical metrics, and implement high-level strategies to maximize your company’s competitive stance.
- Recognize intersecting interests among supply chain management, logistics management, and the functional areas of your business (e.g. Accounting, Finance, Management, Marketing).
- Optimize your supply chain and logistics design.
- Use prescriptive analytics for strategic inventory and distribution management, forecasting, and decision making.