Inventory Management & Demand Forecast Using R - Supply Chain Series
Sheikh Zayed Rd - Dubai - United Arab Emirates
25.2130361
55.27505259999998
Description
INVENTORY MANAGEMENT & DEMAND FORECAST USING R
Supply Chain Series - Keep up with technology with expert-led courses and tools that help you build the skills you need, when you need them.
Venue: Towers Rotana
Course Fee: AED 1200 per participant
Inclusive of Certificate, Course Material, Breakfast, Refreshments & Lunch
Register now
Do you want to create a time series model and use it for forecasting?
Nearly everyone working in a quantitative field has to work with time series data. This sort of data has specific rules, functions and visualizations which you will learn in this course, Beginning Time Series Analysis and Forecasting with R.
First, you'll learn about time series data, which is data captured along a timeline. That means time series data has a specific order (a timestamp) which allows different types of analysis and modeling.
Next, you'll explore how these models can be used to create forecasts which are widely used in many fields ranging from finance to academia or medicine.
R is the favorite tool among data scientists to do time series analysis. Knowing this, you'll finally touch on the variety of add on packages that were created especially for that purpose.
By the end of this course, you'll not only know about the underlying statistics of time series but also about models like ARIMA, exponential smoothing or simpler types of models. Of course you will use these models to create forecasts!
About this Masterclass:
Inventory Management is considered a nightmare in the retail industry since the demand and supply balance keeps changing dynamically. With Machine Learning, organizations are now able to ingest data and take decisions driven by analytics.
With our Machine Learning framework using Time Series Forecasting with R, you now see interactive charts, visualizations and predict demand for the product, resulting in less inventory and more margin profit.
Welcome to our newest workshop that is aimed to turn you into a Master of the following:
- Forecasting your demand, be it stocks or the number of expected sales or even revenue / costs.
- Coding and building great visualizations with R
Companies with inventory face a major challenge due to lack of sales forecasting.
- Managers are unaware of how much inventory would be sufficient to meet the demands of the customers in 2 or 3 months thus resulting in a wastage on purchasing and storing unnecessary inventory. (The cost of inventory is very high)
- If a product is not in high demand, this would immediately affect the margins.
- Business could be lost in case of insufficient inventory.
- On-going sales can be affected by many known and unknown reasons that can occur due to customer purchasing behavior, seasonal variations, weather conditions etc.
Workshop Learning Outcomes:
- Create a forecasting model based on historical sales
- Predict the demand of a product
- Time-series Data
- Learn how to differentiate data analyze and remove trends and seasonality patterns.
- Discover and Learn about White Noise / ACF / RMSE
- Orientation on Modelling Techniques of Demand which include:
1. ARMA (Autoregressive Moving Average Model)
2. ARIMA (Auto Regressive Integrated Moving Average Model)
3. Moving Average Models (Seasonal Autoregressive Integrated Moving Average Model)
4. Exponential Smoothing Models
5. Dynamic Regression Models
6. SARIMA Models
7. Managing Inventory policies using Microsoft Excel
The are the models used by forecasters to forecast demand data. You will now be an expert in making the perfect forecast for your business!
This masterclass equips you with the skill to apply the same learning outcome for your business from the very next day onwards.
Samples of practical scenarios you will be working on at this masterclass:
Who should attend:
Supply Chain Managers Inventory ManagersDemand PlannersSupply Chain AnalystsData AnalystsLogistics PlannersGraduates who seek a career in procurement or supply chainDepartment HeadsHeads of the Departments ( Procurement, Supply chain and Logistics )Procurement Professionals and ManagersProject ManagersContract Specialists and ManagersOperations and Procurement ManagersRetailers and Logistic ExpertsFreight and Cargo Dealers
Meet the Trainer
Haytham OmarInstructor / Consultant in Supply Chain Management & Business Intelligence - American University in the Emirates - DubaiData Scientist, Master of Science in Global Supply Chain Management from Bordeaux Ecole de Management, Bordeaux, France
Omar is a certified instructor in Supply Chain Analytics and holds a Master’s Degree in Supply Chain Management.He is currently conducting workshops and seminars in Supply Chain / Procurement Management, Technology and Information Systems, Procurement and ERP Systems.
He combines both industry experience from oil & gas in procurement and supply chain, supply chain information systems as well as academic experience in teaching supply chain, procurement and information systems courses.
Message from Omar:
Hi guys, this is Haytham Omar and I welcome you to my course, Time Series Analysis - Forecasting Inventory & Demand with R.
The time series side of data science is an immensely important one. Just think about stock prices, sales data, or MATs in bioavailability over time. Each of these fields work with time series and forecasting techniques. As a data scientist and supply chain expert, I work with this sort of data on a regular basis; therefore, I know firsthand about the importance of this field.
R is widely used for time series analysis. It offers an array of great add-on packages like the very popular forecast package. Now, in this course, you will see what a time series actually is.
You will learn about its specific statistical characteristics, as well as their specific terminology. You will learn modeling and forecasting techniques. These are simple techniques like the mean method or the drift method, but also advanced techniques like ARIMA models. You will learn how to compare models and identify the most suitable one.
You will see how to decompose time series into its single components. And you will, of course, use several helpful add-on packages.
By the end of this course, you will be able to handle, format, interpret, and analyze time series data so that you can select suitable models and understand the results. I would categorize this course as a beginners plus course.
Alright guys, I really hope you will enjoy this class. I'll see you inside!
Contact Information:
For more information or if you would like to register, Call +971 58 8832 122 or email academy@edusphere.world
This listing has no upcoming events
Start:
2019-04-18T09:00:00+04:00
End:
2019-04-18T17:00:00+04:00
This listing has no upcoming events
Start:
2019-04-13T09:00:00+04:00
End:
2019-04-13T17:00:00+04:00
This listing has no upcoming events
Start:
2018-11-17T09:00:00+04:00
End:
2018-11-17T17:00:00+04:00
Category
Business
Tickets
Course Fee: AED 1200 per participant
1264.99
AED