The goal of this training is to establish a core understanding of how to apply one or more product forecasts to a risk analysis for supply chain sufficiency to meet forecast demand at a pre-determined level of confidence. Trade-off analysis is reviewed and metodologies for risk mitigation and return on investment for mitigation strategies are established Upon completion of the course, participants will have a detailed understanding of the process and methods for evaluating the existing or intended supply chain to meet customer demand, identify key risks, formulate mitigation strategies and evaluate the cost-benefit of such mitigation strategies.
A model framework for representing the supply chain
The importance of a priori acceptable risk to meeting customer demand
Aggregation of multiple forecasts in cases of shared resources and/or raw materials
Risk identification and monetization
Probability of occurrence
Impact of occurrence
Establishing risk mitigation alternatives
Valuing risk mitigation alternatives
Establishing cost of mitigation
Probability of success
Degree of mitigation
Monetary value of success
Analysis and presentation of results
Monitoring of risk management activity and adjusting for novel data
Modality: Didactic and experiential
Prerequisites: Fundamentals of Strategic Forecasting Tuition: $1,499
