Location: Mississauga, Ontario
Dates:
Location: Kirkland, Quebec
Dates:
This seminar is a basic forecasting workshop designed to cover a broad range of forecasting techniques that can be applied individually or in combination to form a forecasting plan for any pharmaceutical company.
Formal forecasting techniques are often not used due to a lack of knowledge or formal training. As a result, companies are faced with problems created by inadequate forecasting or guesswork. The application of more sophisticated techniques is no guarantee of perfectly accurate forecasts, however they are useful marketing tools that can reduce risk and improve the accuracy of sales forecasts.
Key Benefits of Attending
At this workshop you will learn:
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The basic principles of forecasting
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To use basic time-series data you already possess
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To determine and select the most appropriate forecasting technique
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How to combine qualitative factors into a quantitative forecast
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To understand the process of "event-based" forecasting
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To detect seasonality and factor its effects to develop accurate forecasts
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That management judgment and subjective assessments are an integral part of quantitative forecasts
System 700, A Practical Forecasting Workshop For The Pharmaceutical Industry is a basic workshop covering a wide range of forecasting techniques that are applicable in any pharmaceutical company in Canada.
Program Overview
Introduction
- Purpose, scope and limitations of forecasting techniques to be covered during the workshop
Data Required for Basic Forecasting
- Sources and methods of data collection
- Interpretation and analysis of forecast data
Quantitative Methods
- Moving averages
- monthly, quarterly
- Smoothing methods
- Exponential, Holt’s, Winter’s, damped trend
- Regression Analysis
- Curve Fitting
- Quadratic, logarithmic, exponential
- These methods are demonstrated at various stages of the product life cycle.
Qualitative Methods
- Management input
- Qualitative forecasting techniques
- Sales force estimates
- Expert panels
- The
- Are all used to incorporate subjective methods into the quantitative forecast.
Event-Based Forecasting
- How to identify the most critical market scenarios and events and incorporate them into the quantitative forecast.
- Each participant will develop a computer-based time-series forecast, and make modifications using events that have been ‘quantified’ using ‘qualitative’ methods.
New Product Forecasting
- The process of new product forecasting will be highlighted using both qualitative and quantitative approaches.
- Applications of the Bass Model and Gompertz Curve will be demonstrated.
- Epidemiological and patient-based forecast models are presented.
The workshop has been constructed to combine the theory and practice of forecasting relevant to pharmaceutical marketing.
Experience is gained by working through practical examples using ‘real’ company data which each seminar participant is encouraged to bring.
Who Should Attend
System 700 has been designed for Financial Managers, Marketing Managers, Product Managers, Marketing Research Analysts and Managers, Regional & National Sales Managers, and Production Managers. Any manager responsible for the marketing, production or sales of a pharmaceutical product, who requires a basic understanding of forecasting in the industry, would benefit from this hands-on workshop. Advanced knowledge of mathematics and statistics is not a prerequisite for participants who wish to attend this workshop.
Course fees: $1,950
