Applied Operations Management - Introduction to Forecasting Course
Course
Online
Description
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Course
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Methodology
Online
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Different dates available
The free online course Applied Operations Management - Introduction to Forecasting shows learners why virtually all operations management decisions are based on a forecast of the future. Forecasts drive strategic operations decisions, such as choice of competitive priorities, changes in processes, and large technology purchases. Forecast decisions also serve as the basis for tactical planning and developing worker schedules. The course begins by introducing forecasting and describes why it is critical to the management of all functional areas within an organization. For example, marketing relies on forecasting to predict demand and future sales, and human resources forecasts future hiring requirements. You will then learn about forecasting methods such as time series forecasting. Time series models assume that information needed to generate a forecast is contained in a time series of data and that the future will follow the same patterns as the past. You will learn about simple mean, moving average, weighted moving average, and exponential smoothing methods. These forecasting methods are explained in detail with worked examples throughout. This free online course will be of great interest to all learners who have certified in ALISON's Diploma in Operations Management as it introduces practical applications of operations management in the area of forecasting. It will also be of great interest to all professionals working in the areas operations management or general management who would like to learn more about forecasting and the methods used to make predictive forecasts. The course will also be of interest to all learners who are interested in operations management as a future career.
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Subjects
- IT Management
- Management
- Operations Management
- Forecasting
- IT
Course programme
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ALISON’s Diploma Courses category includes diploma-level courses in a variety of professional subjects, such as project management, business management and entrepreneurship, HR, web design, psychology, customer service, programming, social media marketing, children’s studies, nursing and patient care, social work, IT management, statistics, mental health, Six Sigma, teaching skills for educators, carpentry, supply chain management, international tourism, and PE. These diploma-level courses will give the learner a comprehensive understanding of the subject. Upon successful graduation, the student will have gained valuable skills and training that will greatly enhance employability and career prospects. The category also includes an innovative work-force re-entry skills advanced diploma that will be of interest to anyone re-entering the workforce after an extended absence.
Applied Operations Management - Introduction to Forecasting Course