Principles of Industrial Engineering - Forecasting
Learn how to apply the forecasting techniques of industrial engineering as taught in this free online course.
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Principles of Industrial Engineering - Forecasting is a free online course that teaches the principles and techniques of Forecasting as well as its role as a determinant factor. This course will teach you the importance and applications of Forecasting in operational management. You will learn about the methods used for Forecasting possible demands in Industrial Engineering as well as their application. Comparison of methods as well as their advantages and disadvantages will also be covered in this course.
The course explains the quantitative methods of forecasting and identifies the components of demand as well as its determinant factors. The course also explains the exponential smoothing method and the calculation of the forecast considering the trend. You will also be taught the functions of the Forecasting Error and Tracking Signal. The simple moving average, weighted covering average, and exponential smoothing methods for forecasting demand will be analyzed in the course. Lastly, you will learn the method and procedural analysis of forecasting considering the seasonality factor as well as how to relate the independent variables with the dependent variables.
You will also learn about the approaches used by the casual method of forecasting as well as the calculation of tracking signals using correlation coefficient and the track effectiveness of the tracking signal methodology. This course will be of significant interest to students, researchers, and anyone with an interest in learning forecasting techniques for industrial engineering purposes. So, register for this course today and enhance your understanding of forecasting in operational management.Start Course Now
Forecasting - Learning Outcomes
Introduction to Forecasting
Basics of Forecasting Methods
Quantitative Methods and Approaches
Exponential Smoothing Method
Seasonality Factors and Forecasting Error
Casual and Tracking Signal Method
Forecasting - Lesson Summary
Upon successful completion of this course, you should be able to:
Define the role of forecasting in industrial engineering.
Explain the principles, techniques, and applications of forecasting in operational management.
Outline the methods used for forecasting possible demands and their applications.
Explain the quantitative methods of forecasting.
Identify the components of demand.
Explain forecasts using the exponential smoothing method.
Analyze the methods of forecasting using the seasonality factor.
Discuss how to relate independent variables with dependent variables.
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