--- To enhance the value and performance of procurement and SCM practitioners and their organizations worldwide ---

1 year access to Basic Retail Replenishment and Forecasting Statistics & Probability - INV106

Non-Member Price:$189
Member Price:$99

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You are registering for one year of access to this Knowledge Center course, starting the date of purchase.

2 CEHs - This two-hour Online Self-Study provides an overview of basic statistics and probability concepts.

This course is comprised of the following topics:
Introduction
Descriptive Statistics
Normal Distribution
Conclusion
Assessment
 
This two-hour Online Self-Study is designed to help you understand basic statistics and probability concepts. The course emphasizes how a knowledge of basic statistics and probability theory can help you in the following ways:
Allows you to compare forecasting methods
Gives you an understanding of how much confidence you should  have in a forecast
Allows you to communicate about forecasting with others

Many replenishment systems set safety stock using probability theory. Understanding some of the basic concepts of probability will take the mystery out of how this process works. Furthermore, many of the estimates of fill rates and expected inventory levels use basic probability theory. After completing this course you will have the fundamental building blocks of these techniques and it will help you understand future training modules.

Remember: All Knowledge Center courses are active for one year from the date of purchase.

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