Risk Institute Executive Education Series: Innovation and Risk Management
Every day, understanding risk becomes increasingly critical to the success of business professionals. Intensive education opportunities at the Risk Institute challenge executive-level professionals to identify, measure, and prioritize the many risks facing their organizations and to develop strategies for managing these risks.
Demand Uncertainty, Data Analytics and Risk, April 30, 2015
Demand uncertainty has implications for many firm strategies including inventory management, production management, pricing strategies, sales goals, financial planning, and customer satisfaction. Thus, understanding how to approach demand forecasting from an enterprise-wide perspective is crucial in a competitive and continually changing business environment.
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The Risk Institute Executive Education Series, part of the Fisher College of Business Executive Education Program, is a four-part collaborative engagement. The half-day sessions bring together thought leaders from the Fisher faculty, institute member organizations, and similar companies to explore new perspectives on risk management.
- Operations executives charged with executing the strategic business plans for the organization
- Supply chain executives charged with managing the planning, purchasing, production, transportation, storage and distribution of inventory
- Strategy executives charged with understanding the competitive business environment and its impact on demand uncertainty
- Finance executives charged with financial planning and capital allocation to support the organization's strategic objectives and integrating risk management strategies across functional areas
- Marketing executives charged with developing sales goals and pricing strategies
- HR executives charged with managing employment strategies
- Investor relations executives charged with communicating aspects of the firm’s corporate objectives, results, and risk management strategies to key external stakeholders
- IT executives charged with data analytics and modelling demand wiwthin the organization's IT strategy
- Legal executives charged with understanding the legal risks associate with demand regarding demand uncertainty in the organization
- Communications and PR executives charged with developing messaging strategies with customers and key stakeholders
Program participants will learn how to:
- Develop and assess various demand forcasting models.
- Leverage macroeconomic and business environment data to improve forecasts.
- Apply a framework to develop and create a demand forecasting strategy that is an enterprise-wide responsibility.
- Incorporate qualitative analysis and understand potential behavioral biases.
- Leverage data analytics and macrodata to improve forecasts.