EDP in Sales Forecasting and Demand Planning (Batch 1)
Simply put, we could say that forecasting is focusing on what could happen in the future based on historical and current performance of a company, whereas planning is doing the thinking before you take action to decide in advance what should be done in the future. Sales Forecasting management requires you to analyze and clarify upcoming situations regarding the operations in which you are planning to engage. As you develop your forecast, historical and current information are weighed to predict what is going to happen. Forecasting, therefore, helps us to look ahead to trends and events and figure out how they might affect your company. To accurately forecast your sales and build a sales plan can help to avoid unforeseen cash flow problems and manage your production, staff, and financing needs more effectively. It is an essential tool for managing a business of any size. Managers must have a good understanding of the basics, and it is quite impossible to get a feel without getting one’s hands dirty. The tools that we will use are Python, R and Excel. At the end of this program, participants will be able to:
- Identify areas in organization how forecasting can be employed
- Motivate participants having an analytics orientation to employ the same in the context of demand planning
- Help build data driven business decisions
- What is Sales Forecasting and Demand Planning?
- Data Visualization and Storytelling
- Forecasting Accuracy Metrics and Tracking Signal
- Introduction to Time Series Analysis
- Smoothing Based Forecasting Techniques
- Forecasting of Intermittent Demand
- Introduction to Descriptive Statistics using R
- Regression Based Forecasting Methods (include Hypothesis testing)
- Advanced Time Series Techniques
- Forecasting for New Products
- Capstone Project
- On-campus component (2 days)
Who Should AttendThis course is aimed primarily at people employed at or willing to work at e-commerce firms, to equip them with necessary analytical skills for business benefit of e-commerce firms. This will enable the participants to make data driven decisions and fit themselves appropriately in the e-commerce economy.
Course PedagogyThe primary method of instruction will be through LIVE lectures that will be beamed online via Internet to student desktops/laptops or classrooms. The pedagogy will comprise lectures, case walkthroughs, and analytical exercises imparted by XLRI’s faculty. Concepts will be explained using examples drawn from the real life. All enrolled students will also be provided access to the Cloud Campus through which students may access other learning aids, reference materials and assessments, case studies, projects and assignments as appropriate. Throughout the duration of the course, students will have the flexibility to reach out to the professors, real time during the class or offline via the Cloud Campus to raise questions and clear their doubts.
AssessmentA minimum of 70% attendance to the LIVE lectures is a prerequisite for the successful completion of this program. There are periodic evaluations built in throughout the duration of the course. These maybe in the form of a quiz, assignment, project, case studies or other objective/subjective assessments. The evaluations are designed ensure continuous student engagement with the course and encourage learning. Participants who successfully complete the same along with the requisite attendance criteria, an end course assessment and project work will be awarded a certificate of completion by XLRI. Participants who are unable to clear the evaluation criteria but have the requisite attendance will be awarded a participation certificate by XLRI.
Certificate of Completion for participants successfully passing the evaluation criteria. Certification of participation for the rest.
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This has been one of my best learning experiences. It has got me to appreciate business management in a better way.The teaching faculty have been brilliant, the TA’s have been approachable and helpful throughout the course and I would rate this course a 10 on 10 when its gauged against other similar courses offered.I have been interacting with the students who are from the other institutes at our Hughes center and I have learnt that none of those courses have the rigor that PGCBM demands. This is something I appreciate about the PGCBM course as this has forced us to study and work hard towards achieving a good grade albeit at a cost. The cost is the toll it has taken in managing the work and personal life as the course has been heavy and requires a focused study of a good 2-3 hours every day on an average. But I believe if it was not so then there would not have been any learning. With regards to the campus component I felt it was brilliantly organized and the effort put in by the VIL team is commendable. The faculty was superb, the accommodation was excellent and the food was an absolute treat.
I thank the entire XLRI team for this and hope to be associated with the XLRI family in the years to come.
Mr. Darshan Krishnamurthy – PGCBM 26
I would like to say a BIG THANK YOU…. for all that you all did when we were on campus.I wish we as HR, can be to our employees what you were to us in that week.It was one of the most hectic week but I loved every bit of it. If another week of campus stay is announced, I will register without a thought! Everything was almost perfect. Hearing, knowing of and admiring XLRI is different from experiencing it. In one word, I lived the most inspiring week of my life in Jamshedpur! Thanks again for everything.
Ms. Anindita Dey – PGCHRM 19
I am very proud to be an alumnus of the great institution ‘XLRI’ that has produced some of the greatest leaders in various fields. To have been taught by the professors at XLRI who are great academicians and who guide many global companies to drive their strategies was indeed a sought-after experience. I am very proud to have been a part of XLRI where students are not just students but managers, strategists and leaders in the making. Being an alumnus of XLRI where values and patriotism are omnipresent even today is one of my biggest achievements.
Ms. Rudrani Nalubolu – PGCHRM-14
I am proud to say that XLRI is my alma mater, and extremely happy to have done so well in the course. The best part about the VIL courses is the quality of teaching – we interact with the finest minds in the subject, and the intellectual stimulation that comes out of classroom discussions is simply mind blowing. I will always remember this one year as one of the most valuable years of my life.
Ms. Pushpa Jagadeesan – PGCHRM-13
I have had a wonderful experience as a student of the program and have learned a lot from my professors and fellow students. There are many options available in the education market to continue your education as a professional. However, the experience, exposure and access to years of research in the field of HR cannot even come close to what one can find at XLRI. Being a part of this institution makes me stand apart in the crowd and to believe in what I stand for as an HR professional. I am proud to call myself an XLRI alumnus and it is my honor to be one.
Godfrey Mitchell – PGCHRM-12
Its been an awesome ride at XLRI.I’ve meet some wonderful friends and meet some great leaders who have helped me take critical decisions of my life.I’ve already been recognized by top companies in my sector with offers from companies as renowned as pepper fry, which i had to let go cause i had a different vision.
Currently i have got an opportunity to lead the HR team of one the companies with not only the biggest vision’s in INDIA but in the world which has a vision to save millions of life’s on a click of a button and i would owe this to XLRI for giving me the XL tag, it certainly counts. i am working as a consultant though for 3 months but the opportunity is what I have always wanted lets just hope i make this count. Cheers!!!. Thanks a ton. Its just the beginning…
Thanks a ton, Team XL.
Archie D souza – PGCHRM-20
With great pleasure and humility I would like to share this moment of happiness with my Respected Professors and Students.On 18th February 2017, I was honored with prestigious ‘100 most Impactful CSR Leaders ( A Global Listing)’ by World CSR.The 100 Most Impactful CSR Leaders (Global Listing) is a tribute to those who are missionaries and passionate about CSR. Those Leaders who have believed that CSR Leadership must contribute to Social change are recognized. The World CSR Day pays a tribute to such leaders who are transformation agents. By recognizing Leaders who have contributed value & made a change. Such Leaders who are impactful & believe that there is a MAD (Making A Difference) approach to their workThe approach is driven by passion & commitment towards Social Change.I am really grateful towards XLRI and my Great Professors for the wonderful learning that helped me develop a new vision and better approach to my work.I am a proud student of XLRI PGCHRM -20 Batch.
Kindly convey my gratitude to all the professors and batchmates who have contributed significantly for this achievement.
Vibha Natraj – PGCHRM-20
Wonder why something happens suddenly in our life? Explore not. It’s the lord who connects the dot. Such was the amazing experience when I first came to know about XLRI course. I had a quick glimpse of all the details, and thought why cannot I join this? After working for Indian Air force, for seventeen long years, I made up my mind to be an HR person, so that I can render my long term of experience so far to the organization, where I could get an opportunity to work.
The XLRI PGCHRM -21 courses gave me an extreme outlook, to enhance my HR skills to a large extent. The journey from day one was fantastic. It created a platform for getting to know each other, from different parts of the country. Each XLRI’an had many stories to share and learning experiences. In spite of all the hurdles faced by me professionally & personally during the course completion, I made it a point to succeed in all the areas of assessment. Now, a person with many master degrees in hand, feel proud and happy to say that XLRI has great impact on my career. Now after having so much of learning experience, I had been successful in dealing with many issues in my organization.
I should definitely quote here, an HR person deals with human resources, the most challenging task. It requires really great skill and learning. And I believe, XLRI has rendered me those skills. Now when I look back, I feel my quick judgement of enrolling myself in XLRI then was really a great decision.
Sreenivas.K RH-16142 – PGCHRM-21
I found the course extremely useful for working executives like me. The course coverage was exhaustive with all contemporary issues covered at length. The course pedagogy that included quizzes, assignments, mid-term and end-term exams, ensured that along with conceptual learning we also mastered the application of such concepts in real life situations. It was indeed a privilege to learn from the hugely experienced faculty, most of whom shared deep insights from the corporate world, which made our learning more practical and useful.In order to make the programme even more useful, I would like to suggest the following:
Presently, the immersion programme at XLRI campus is for a week during the entire duration of the programme. This needs to be conducted twice (a total of two weeks) during the programme. Such ‘face-to face’ interaction with the faculty is particularly helpful in having a better grasp of such courses/topics as Labour Laws, IR&PM, Collective Bargaining, Social Research Methods, etc.
On the whole, it was a great learning and enriching experience for me as a professional. I shall continue to have fond memories of the wonderful time spent in the classroom and campus with professors and co-students alike!
Arup Kumar – 26th March, 2017
Thank you all so so much for making our stay in the campus super comfortable and a memorable one. We are back at our work stations loaded with funtastic memories and friendships to be cherished forever.
Thank you all once again.
Ms. Srimoyee Basu – PGCBM 26
Campus Component was most wonderful event and it was an experience for lifetime.I never imagined myself as a student again attending classroom lectures. This was possible because of the Campus Component. Thanks for the wonderful hospitality during our stay.
Mr. Santosh Pawaskar – PGCBM 26
Though it was a VIL platform, but I didn’t observe any lack of quality in the teaching pedagogy. Faculty was always approachable. Studying through this platform was the same as studying at college.
Bhim Sain Mirg – PGCBM-19
Visiting the XLRI campus is one of the most memorable experiences of my life. I appreciate the effort you and the team invested in the 1 year VIL program and CC. Hats off to the team.
Sonia Singh – PGCHRM 18