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IBF CPF Certified Professional Forecaster
CPF is for everyone who is involved in demand forecasting. The need for demand forecasting is increasing by long supply lines, rapidly evolving products, and unpredictability of demand. The risks of an incorrect forecast are rising.
In collaboration with the Institute of Business Forecasting & Planning (IBF), Visie Partners offers the course “Certified Professional Forecaster” (CPF).
The course is best suited for:
Marketing professionals
Marketing professionals use forecasting to determine the expected demand for new products and services and existing demand products. Marketing may require different forecasting techniques depending on the stage of the product life cycle. Marketing should consider the effect of sales promotions, product introductions, competitor activities, and other factors. When the planning is correct, it can prevent lost sales and excess inventory.
In this course you learn how to select effective forecasting models and measure their performance.
Sales Managers
Sales Managers use forecasting techniques to translate sales, delivery schedules, and customer contract performance to sales predictions. Sales managers know the market and are responsible for recording sales data that determine the quality of the forecast.
In this course you learn about the importance of data management as a foundation for forecasting.
Operations Managers and Supply Chain Managers
Operations and Supply Chain Managers use sales forecasts to estimate the required production levels. The reliability of the forecast is used to calculate safety stock levels. Companies can use the safety stock at different points in the distribution channel.
Finance Managers
Finance managers need to know different forecasting techniques to develop a sustainable company. The forecast should include the impact of the forecast on reliability, profitability, and the cash flow of a company. Finance can use demand forecasting to estimate price fluctuations, interest rates, and other variables.
What is the best-suited method?
During the CPF course, you learn how to choose the best-suited forecasting method and measure and improve forecast performance. As planning processes require teamwork, we will also cover the different roles in the planning organization. Forecast performance measurement is also about learning when planners revise the forecasting method. Finally, you will learn about the importance of analyzing historical transactions as these can serve as a predictor of future developments
Register for the three day course Certified Professional Forecaster now.
Content and structure
Certified Professional Forecaster is a 3-day course. Before starting, it is important that the course materials have been extensively studied. The training days are used to discuss the contents of the book, practicing forecasting techniques with Excel and practice exams. Participants are invited to share their own experiences with other students and the instructor. You get plenty of opportunities to connect the concepts to your own working experience. The course material and exam are in English, the course itself can be given in Dutch or English.
When you successfully complete the course you may call yourself Certified Professional Forecaster. After successful completion with a exam of IBF you are allowed to use ‘CPF’ behind your name.
Course topics
- the importance of an inventory buffer concerning forecasting performance
- the effects of sales promotions on demand patterns
- inventory costs and the drivers of these costs
- the Role of Forecasting & Planning in decision-making processes
- planning the demand for a product/service
- forecasting and planning process
- the Sales & Operations (S&OP) process
- aspects of change management in the Sales & Operations Planning Implementation
- data analysis
- use of historical sales data
- make errors between forecast and actual sales measurable
- predict the demands and their reliability
- obtain the support and confidence of the management and those involved in the process
- product life cycle forecasting