This simulation is designed to improve the forecasting skills of individuals
with limited prior forecasting backgrounds. Improved forecasting expertise is
valuable for anyone who has ever participated or will ever participate in
budgeting and planning efforts at a company.
This simulation will give you the opportunity to practice and apply
forecasting techniques and principles. Within this forecasting simulation,
you're asked to assume the role of a forecaster. Using the data provided
within each of the problems in this forecasting simulation, you'll need to
create one or more forecasts as specified.
Your goal is to develop accurate forecasts. Forecasting accuracy is based on
comparing your forecasts to the actual outcomes that are known to have
occurred (revealed only after you commit to specific forecasts required in
each forecasting problem in the simulation).
Once downloaded, to access the Forecasting Simulation, use the password 4567.
By the end of this course, you will be able to:
Forecast future sales volume for products with a high space-to-turnover ratio.
Develop forecasts of call center usage.
Develop a monthly sales volume forecast for a well-established brand.
Develop production plans for multiple products within a product line.
Develop a production plan for one particular channel based on week-old sales data.
Describe the challenges and issues associated with developing useful and accurate forecasts in a variety of business contexts.
The forecasting simulation consists of the following components:
Problem #1 Overview, Simulation Run, and Debriefing
Problem #2 Overview, Simulation Run, and Debriefing
Problem #3 Overview, Simulation Run, and Debriefing
Problem #4 Overview, Simulation Run, and Debriefing
Problem #5 Overview, Simulation Run, and Debriefing