Global Masterclass Series

Building Resilient Demand Planning through Probabilistic Forecasting

By Stefan De Kok & Dr. Rakesh Singh

15th May, 2021 – 02:00 PM to 05:00 PM (IST)

A move towards an intelligent and resilient planning framework

About the Masterclass

When upside potential and downside risks are lopsided, planners and executives can gain greater accuracy with Probabilistic Demand Planning. For decades, demand planners have used mean and standard deviation as the default method. There is a key shortcoming with this approach – it assumes that demand is normally distributed, which it rarely is. This incorrect assumption severely impacts forecast accuracy and the accuracy of all dependent plans. The solution that is gaining acceptance is probabilistic forecasting. In this Masterclass, we will discuss how probability distributions allow planners to work with the real uncertainty in demand and create more accurate demand plans. We will also explore other benefits of this approach and the differences between deterministic and probabilistic forecasting.

Coverage

Understanding data and assumptions behind deterministic forecasting

Benefits of probabilistic forecasting vis-à-vis deterministic forecasting

Difference between statistical and probabilistic forecasting

Understanding probabilistic distribution and the maths behind it

Demand Planning with probabilistic forecasting

Understanding outside in factors and deriving insights from these using probability distribution based intelligent forecasting

Machine learning and Probability distribution facilitating the transition towards probabilistic forecasting

Masterclass Leaders

Stefan De Kok

CEO, Wahupa, and global thought leader in the probabilistic planning

Dr. Rakesh Singh

Chairman ISCM, global thought leader, author, and researcher in Demand Planning & Forecasting

Fee and Registration

Fees

For India
Rs 11800 with GST

For  Other Countries

Register and Download Brochure